Hussman Strategic Advisors Inc. Makes New Investment in Concentrix Corporation (NASDAQ:CNXC)

Hussman Strategic Advisors Inc. acquired a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 63,000 shares of the company's stock, valued at approximately $3,505,000. Concentrix accounts for 0.8% of Hussman Strategic Advisors Inc.'s investment portfolio, making the stock its 18th largest holding. Hussman Strategic Advisors Inc. owned approximately 0.10% of Concentrix as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. grew its holdings in Concentrix by 38.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after purchasing an additional 823,228 shares during the period. Copeland Capital Management LLC lifted its position in shares of Concentrix by 3.0% during the first quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company's stock worth $76,418,000 after purchasing an additional 40,226 shares in the last quarter. Lyrical Asset Management LP lifted its position in shares of Concentrix by 3.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock worth $54,451,000 after purchasing an additional 41,540 shares in the last quarter. Deprince Race & Zollo Inc. lifted its position in shares of Concentrix by 55.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after purchasing an additional 359,476 shares in the last quarter. Finally, Paradigm Capital Management Inc. NY raised its holdings in Concentrix by 2.7% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 750,142 shares of the company's stock valued at $32,459,000 after acquiring an additional 19,418 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on CNXC. Robert W. Baird boosted their target price on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Barrington Research restated an "outperform" rating and set a $54.00 price target on shares of Concentrix in a research report on Tuesday, June 24th. Bank of America decreased their target price on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday, June 27th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $80.00 target price on shares of Concentrix in a research report on Monday, June 30th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Concentrix currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction 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 $2,175,697.80. The trade was a 1.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Christopher A. Caldwell purchased 1,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The stock was acquired at an average cost of $46.00 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief executive officer directly owned 303,362 shares of the company's stock, valued at $13,954,652. The trade was a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.20% of the stock is owned by insiders.

Concentrix Trading Up 0.5%

CNXC stock traded up $0.27 during mid-day trading on Friday, reaching $57.80. 68,999 shares of the stock traded hands, compared to its average volume of 819,902. The stock's fifty day moving average is $55.80 and its 200-day moving average is $50.87. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14. The company has a market cap of $3.64 billion, a P/E ratio of 15.88, a P/E/G ratio of 0.73 and a beta of 0.53. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $77.00.

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

Concentrix Dividend Announcement

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

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.

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