GAMMA Investing LLC Buys 135,811 Shares of Concentrix Co. (NASDAQ:CNXC)

GAMMA Investing LLC increased its holdings in Concentrix Co. (NASDAQ:CNXC - Free Report) by 47,820.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 136,095 shares of the company's stock after buying an additional 135,811 shares during the quarter. GAMMA Investing LLC owned 0.21% of Concentrix worth $7,572,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in CNXC. Barclays PLC boosted its stake in shares of Concentrix by 134.3% during the 3rd quarter. Barclays PLC now owns 35,862 shares of the company's stock worth $1,837,000 after acquiring an additional 20,559 shares during the last quarter. KBC Group NV grew its holdings in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after purchasing an additional 815 shares during the period. Bleakley Financial Group LLC purchased a new position in shares of Concentrix during the 4th quarter valued at about $276,000. Thompson Investment Management Inc. lifted its position in shares of Concentrix by 1,232.8% during 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 in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after acquiring an additional 324 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CNXC shares. Bank of America raised their target price on shares of Concentrix from $59.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday. Barrington Research decreased their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Concentrix currently has an average rating of "Buy" and an average target price of $67.25.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell purchased 1,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average cost of $46.00 per share, with a total value of $46,000.00. Following the purchase, the chief executive officer now owns 303,362 shares in the company, valued at approximately $13,954,652. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the transaction, the executive vice president now owns 39,130 shares of the company's stock, valued at $2,164,280.30. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,944 shares of company stock valued at $1,510,158. 3.20% of the stock is currently owned by insiders.

Concentrix Price Performance

NASDAQ CNXC traded down $0.17 during trading hours on Thursday, reaching $57.15. The company's stock had a trading volume of 753,610 shares, compared to its average volume of 715,842. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The firm's 50-day moving average price is $52.35 and its 200-day moving average price is $48.71. The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 0.63 and a beta of 0.56.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion during 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%. Concentrix's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. On average, equities research analysts predict that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were issued a $0.3328 dividend. The ex-dividend date of this dividend 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 33.33%.

Concentrix Profile

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.