Cwm LLC Sells 49,042 Shares of Concentrix Corporation $CNXC

Key Points

• Cwm LLC sold 49,042 shares of Concentrix in Q4 — a 56.7% reduction — leaving 37,468 shares valued at about $1.56M; institutional investors now own roughly 90.34% of the stock.
• Company insiders increased holdings: CFO Andre S. Valentine bought 2,500 shares at $27.95 and CEO Christopher A. Caldwell bought 1,000 shares at $37.07, with insiders now owning 0.90% of the company.
• Several brokers cut price targets and ratings (average rating: Hold, average target $48.50), while Concentrix announced a $0.36 quarterly dividend (annualized yield ~5.5%) payable May 5.

Cwm LLC trimmed its stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 56.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 37,468 shares of the company's stock after selling 49,042 shares during the period. Cwm LLC owned 0.06% of Concentrix worth $1,558,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Huntington National Bank raised its stake in shares of Concentrix by 6,011.1% in the 3rd quarter. Huntington National Bank now owns 550 shares of the company's stock valued at $25,000 after acquiring an additional 541 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Concentrix by 532.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock valued at $34,000 after acquiring an additional 522 shares in the last quarter. Quent Capital LLC bought a new position in shares of Concentrix in the 3rd quarter valued at approximately $29,000. Larson Financial Group LLC raised its stake in shares of Concentrix by 224.9% in the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company's stock valued at $32,000 after acquiring an additional 479 shares in the last quarter. Finally, Rothschild Investment LLC raised its stake in shares of Concentrix by 14,980.0% in the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company's stock valued at $35,000 after acquiring an additional 749 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Concentrix news, CFO Andre S. Valentine bought 2,500 shares of the stock in a transaction on Thursday, April 9th. The shares were purchased at an average price of $27.95 per share, with a total value of $69,875.00. Following the acquisition, the chief financial officer directly owned 89,066 shares of the company's stock, valued at $2,489,394.70. This represents a 2.89% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Christopher A. Caldwell bought 1,000 shares of the stock in a transaction on Thursday, January 29th. The stock was acquired at an average cost of $37.07 per share, for a total transaction of $37,070.00. Following the acquisition, the chief executive officer directly owned 362,075 shares in the company, valued at approximately $13,422,120.25. The trade was a 0.28% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNXC. Robert W. Baird cut their price objective on Concentrix from $52.00 to $40.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 25th. Canaccord Genuity Group cut their price objective on Concentrix from $80.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Barrington Research cut their price objective on Concentrix from $62.00 to $38.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 25th. Finally, Weiss Ratings downgraded Concentrix from a "hold (c-)" rating to a "sell (d)" rating in a research note on Thursday, January 29th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $48.50.

Concentrix Stock Performance

CNXC opened at $26.17 on Friday. The firm has a market capitalization of $1.60 billion, a P/E ratio of -1.21, a price-to-earnings-growth ratio of 0.34 and a beta of 0.50. The stock's 50 day moving average price is $30.06 and its two-hundred day moving average price is $36.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. Concentrix Corporation has a 12-month low of $24.27 and a 12-month high of $62.14.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.04). The business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The business's quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned $2.79 EPS. On average, equities analysts forecast that Concentrix Corporation will post 10.42 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.44 dividend on an annualized basis and a yield of 5.5%. Concentrix's dividend payout ratio (DPR) is -6.68%.

About Concentrix

Concentrix Inc NASDAQ: CNXC is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.