Cwm LLC Has $3.71 Million Stock Position in Concentrix Corporation (NASDAQ:CNXC)

CWM LLC grew its holdings in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 8,608.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 66,617 shares of the company's stock after buying an additional 65,852 shares during the quarter. CWM LLC owned approximately 0.10% of Concentrix worth $3,707,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in shares of Concentrix by 761.3% in the first quarter. GAMMA Investing LLC now owns 2,446 shares of the company's stock worth $136,000 after acquiring an additional 2,162 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Concentrix in the fourth quarter worth $294,000. Raymond James Financial Inc. purchased a new position in Concentrix during the fourth quarter valued at $4,752,000. Fifth Third Bancorp lifted its position in Concentrix by 36.5% during the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after purchasing an additional 548 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in Concentrix during the fourth quarter valued at $539,000. Hedge funds and other institutional investors own 90.34% of the company's stock.

Concentrix Price Performance

CNXC stock traded down $0.51 during trading on Monday, hitting $57.82. The stock had a trading volume of 736,215 shares, compared to its average volume of 750,802. The stock has a market capitalization of $3.64 billion, a P/E ratio of 15.88, a PEG ratio of 0.77 and a beta of 0.53. The company's 50-day moving average price is $55.90 and its two-hundred day moving average price is $51.08. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The firm's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 EPS. As a group, research analysts predict that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Friday, July 25th will be issued a dividend of $0.3328 per share. The ex-dividend date is Friday, July 25th. This represents a $1.33 annualized dividend and a yield of 2.30%. Concentrix's dividend payout ratio is currently 36.54%.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $57.06, for a total transaction of $28,530.00. Following the sale, the executive vice president owned 38,130 shares in the company, valued at approximately $2,175,697.80. This trade represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on CNXC shares. Bank of America reduced their target price on Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. Barrington Research reissued an "outperform" rating and set a $54.00 price objective on shares of Concentrix in a research note on Tuesday, June 24th. Canaccord Genuity Group reissued a "buy" rating and set a $80.00 price objective 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. Finally, Robert W. Baird increased their price objective on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.