Cwm LLC Acquires 13,280 Shares of Concentrix Corporation $CNXC

Key Points

• Cwm LLC increased its holdings in Concentrix Corporation by 19.9%, acquiring an additional 13,280 shares to own a total of 79,897 shares valued at approximately $4,223,000.
• Concentrix announced a quarterly dividend increase from $0.33 to $0.36 per share, with a payout ratio of 28.12% and a dividend yield of 3.2%.
• Securities analysts have mixed ratings on Concentrix, with a consensus target price of $66.25, indicating a moderate buy sentiment despite some recent price downgrades.

Cwm LLC grew its holdings in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 19.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,897 shares of the company's stock after acquiring an additional 13,280 shares during the quarter. Cwm LLC owned about 0.13% of Concentrix worth $4,223,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CNXC. Yousif Capital Management LLC boosted its position in shares of Concentrix by 4.7% during the 1st quarter. Yousif Capital Management LLC now owns 17,292 shares of the company's stock valued at $962,000 after acquiring an additional 783 shares during the last quarter. GAMMA Investing LLC lifted its position in Concentrix by 761.3% in the 1st quarter. GAMMA Investing LLC now owns 2,446 shares of the company's stock worth $136,000 after buying an additional 2,162 shares during the last quarter. SG Americas Securities LLC bought a new stake in Concentrix in the 1st quarter worth approximately $347,000. Fifth Third Bancorp lifted its position in Concentrix by 36.5% in the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after buying an additional 548 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Concentrix by 687.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,270 shares of the company's stock worth $2,797,000 after buying an additional 43,888 shares during the last quarter. Institutional investors own 90.34% of the company's stock.

Concentrix Price Performance

Shares of Concentrix stock opened at $44.87 on Friday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.56. The business's 50 day simple moving average is $50.35 and its two-hundred day simple moving average is $52.47. The stock has a market capitalization of $2.79 billion, a P/E ratio of 9.49, a price-to-earnings-growth ratio of 0.64 and a beta of 0.50. Concentrix Corporation has a one year low of $36.28 and a one year high of $66.00.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.2%. This is a boost from Concentrix's previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, October 24th. Concentrix's payout ratio is presently 28.12%.

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the transaction, the executive vice president directly owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. The trade was a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Caldwell bought 1,000 shares of Concentrix stock in a transaction dated Friday, October 10th. The shares were acquired at an average cost of $45.35 per share, for a total transaction of $45,350.00. Following the completion of the purchase, the chief executive officer directly owned 305,345 shares of the company's stock, valued at approximately $13,847,395.75. This trade represents a 0.33% increase in their position. The disclosure for this purchase can be found here. 3.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

CNXC has been the subject of a number of recent research reports. Bank of America dropped their target price on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday, June 27th. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Robert W. Baird dropped their target price on Concentrix from $75.00 to $62.00 and set an "outperform" rating for the company in a research report on Monday, September 29th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $80.00 price target on shares of Concentrix in a research note on Tuesday, September 23rd. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $62.00 price target on shares of Concentrix in a research note on Wednesday, September 24th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $66.25.

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.

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