Two Sigma Investments LP Grows Position in Concentrix Co. (NASDAQ:CNXC)

Two Sigma Investments LP increased its holdings in Concentrix Co. (NASDAQ:CNXC - Free Report) by 65.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 116,163 shares of the company's stock after purchasing an additional 46,070 shares during the period. Two Sigma Investments LP owned approximately 0.18% of Concentrix worth $5,026,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CNXC. Pzena Investment Management LLC increased its position in Concentrix by 60.0% in the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock worth $101,667,000 after purchasing an additional 880,960 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Concentrix by 38.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock worth $128,998,000 after purchasing an additional 823,228 shares during the last quarter. Alyeska Investment Group L.P. bought a new stake in Concentrix in the fourth quarter worth $21,123,000. Millennium Management LLC increased its position in Concentrix by 232.9% in the fourth quarter. Millennium Management LLC now owns 578,700 shares of the company's stock worth $25,040,000 after purchasing an additional 404,885 shares during the last quarter. Finally, Marshall Wace LLP increased its position in Concentrix by 209.0% in the fourth quarter. Marshall Wace LLP now owns 593,043 shares of the company's stock worth $25,661,000 after purchasing an additional 401,133 shares during the last quarter. Institutional investors own 90.34% of the company's stock.

Insider Activity

In other news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of the sale, the executive vice president now directly owns 39,130 shares of the company's stock, valued at approximately $2,164,280.30. The trade was a 1.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Olivier Duha sold 29,444 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the sale, the director now directly owns 1,155,862 shares of the company's stock, valued at $56,082,424.24. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,444 shares of company stock valued at $1,481,628. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CNXC has been the subject of several recent analyst reports. Barrington Research dropped their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. Bank of America lifted their price objective on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $65.75.

Concentrix Trading Down 1.7%

NASDAQ CNXC traded down $0.95 on Friday, hitting $56.49. 745,799 shares of the stock were exchanged, compared to its average volume of 711,305. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a fifty day moving average price of $52.01 and a two-hundred day moving average price of $47.81. The firm has a market capitalization of $3.61 billion, a P/E ratio of 15.23, a P/E/G ratio of 0.63 and a beta of 0.52. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 earnings per share. Research analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were paid a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio is currently 33.33%.

Concentrix Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.