Crossmark Global Holdings Inc. Makes New $1.18 Million Investment in Concentrix Corporation (NASDAQ:CNXC)

Crossmark Global Holdings Inc. acquired a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 21,183 shares of the company's stock, valued at approximately $1,179,000.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its stake in shares of Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after buying an additional 286 shares in the last quarter. UMB Bank n.a. grew its stake in shares of Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after buying an additional 217 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after purchasing an additional 444 shares in the last quarter. Quarry LP grew its stake in Concentrix by 843.9% during the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after purchasing an additional 2,270 shares in the last quarter. Finally, Fifth Third Bancorp grew its stake in Concentrix by 36.5% during the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after purchasing an additional 548 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Christopher A. Caldwell bought 1,000 shares of Concentrix stock in a transaction dated Monday, April 21st. The stock was acquired at an average cost of $46.00 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer owned 303,362 shares of the company's stock, valued at approximately $13,954,652. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $57.06, for a total value of $28,530.00. Following the completion of the sale, the executive vice president directly owned 38,130 shares of the company's stock, valued at $2,175,697.80. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 30,444 shares of company stock valued at $1,482,503. Insiders own 3.20% of the company's stock.

Concentrix Stock Down 1.6%

NASDAQ CNXC traded down $0.96 during trading on Friday, reaching $58.62. 542,366 shares of the company's stock were exchanged, compared to its average volume of 747,478. The stock has a market cap of $3.69 billion, a P/E ratio of 16.10, a price-to-earnings-growth ratio of 0.77 and a beta of 0.53. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.65 and a current ratio of 1.61. The company has a 50 day moving average price of $55.36 and a two-hundred day moving average price of $50.57. Concentrix Corporation has a 1 year low of $36.28 and a 1 year high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%. The firm's quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $2.69 earnings per share. On average, equities research analysts anticipate that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th will be issued a $0.3328 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, July 25th. Concentrix's payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CNXC shares. Bank of America lowered their target price on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, June 27th. Canaccord Genuity Group reissued a "buy" rating and set a $80.00 target price on shares of Concentrix in a research note on Monday, June 30th. Wall Street Zen cut Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Robert W. Baird boosted their target price on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Finally, Barrington Research reissued an "outperform" rating and set a $54.00 target price on shares of Concentrix in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Concentrix has an average rating of "Moderate Buy" and a consensus price target of $66.75.

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.