8,210 Shares in Concentrix Co. (NASDAQ:CNXC) Purchased by Css LLC Il

CSS LLC IL bought a new stake in Concentrix Co. (NASDAQ:CNXC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,210 shares of the company's stock, valued at approximately $355,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Thompson Investment Management Inc. grew its stake in Concentrix by 1,232.8% in the 4th quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company's stock valued at $6,076,000 after buying an additional 129,876 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Concentrix during the 4th quarter worth approximately $4,752,000. American Century Companies Inc. bought a new stake in Concentrix in the 4th quarter valued at $539,000. Y Intercept Hong Kong Ltd acquired a new position in Concentrix in the 4th quarter valued at $294,000. Finally, Bleakley Financial Group LLC acquired a new position in Concentrix in the 4th quarter valued at $276,000. Institutional investors own 90.34% of the company's stock.

Insider Activity

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix 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 transaction, the executive vice president now owns 39,130 shares in the company, 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 is accessible through the SEC website. Also, CEO Christopher A. Caldwell purchased 1,000 shares of the stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $46.00 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer now owns 303,362 shares in the company, valued at approximately $13,954,652. The trade was a 0.33% increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 30,444 shares of company stock worth $1,481,628. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CNXC shares. Barrington Research decreased their price target on shares of 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 price target on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. 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. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $65.75.

Concentrix Price Performance

CNXC traded down $0.43 on Wednesday, hitting $57.12. 109,346 shares of the stock were exchanged, compared to its average volume of 706,251. The firm has a market capitalization of $3.65 billion, a price-to-earnings ratio of 15.34, a PEG ratio of 0.63 and a beta of 0.52. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The business has a 50-day moving average of $51.29 and a two-hundred day moving average of $47.54.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion for 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%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $2.57 EPS. Sell-side analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were issued a dividend of $0.3328 per share. The ex-dividend date was Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.33%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

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.