Harbor Capital Advisors Inc. Grows Position in Concentrix Co. (NASDAQ:CNXC)

Harbor Capital Advisors Inc. grew its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 41.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,013 shares of the company's stock after acquiring an additional 13,257 shares during the quarter. Harbor Capital Advisors Inc. owned 0.07% of Concentrix worth $2,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CNXC. Steward Partners Investment Advisory LLC boosted its holdings in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after acquiring an additional 286 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after purchasing an additional 490 shares during the period. UMB Bank n.a. raised its stake in shares of Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after purchasing an additional 217 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after purchasing an additional 444 shares during the period. Finally, Quarry LP raised its stake in Concentrix by 843.9% in the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock valued at $110,000 after acquiring an additional 2,270 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Stock Performance

Shares of NASDAQ CNXC traded down $1.83 during trading on Friday, reaching $55.32. 455,393 shares of the company traded hands, compared to its average volume of 717,940. The firm has a 50 day simple moving average of $52.74 and a 200-day simple moving average of $48.90. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.53 billion, a PE ratio of 14.91, a P/E/G ratio of 0.63 and a beta of 0.56.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. During the same quarter last year, the business earned $2.57 EPS. The firm's revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were issued a $0.3328 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.41%. Concentrix's dividend payout ratio is presently 33.33%.

Insiders Place Their Bets

In other Concentrix news, CEO Christopher A. Caldwell purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the acquisition, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. This represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $57.06, for a total transaction of $28,530.00. Following the completion of the transaction, the executive vice president now owns 38,130 shares in the company, valued at approximately $2,175,697.80. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,944 shares of company stock worth $1,510,158. 3.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CNXC has been the topic of a number of research reports. Barrington Research lowered their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Bank of America lifted their target price on Concentrix from $59.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, June 9th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Concentrix presently has a consensus rating of "Buy" and a consensus price target of $67.25.

About Concentrix

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.