63,000 Shares in Concentrix Corporation (NASDAQ:CNXC) Bought by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. bought a new position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 63,000 shares of the company's stock, valued at approximately $3,505,000. Concentrix accounts for about 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 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after buying an additional 286 shares during the period. UMB Bank n.a. lifted its holdings in shares of Concentrix by 47.3% in the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Concentrix by 111.8% in the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after purchasing an additional 444 shares during the last quarter. Quarry LP grew its holdings in shares of Concentrix by 843.9% during the fourth quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after buying an additional 2,270 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Concentrix by 36.5% during the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after purchasing an additional 548 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNXC has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Barrington Research reiterated an "outperform" rating and set a $54.00 price objective on shares of Concentrix in a report on Tuesday, June 24th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price objective on shares of Concentrix in a report on Monday, June 30th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Bank of America cut their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $66.75.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $57.06, for a total value of $28,530.00. Following the completion of the transaction, the executive vice president owned 38,130 shares of the company's stock, valued at approximately $2,175,697.80. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company's stock.

Concentrix Trading Up 0.4%

Shares of NASDAQ:CNXC traded up $0.23 during trading on Monday, reaching $58.56. 263,701 shares of the stock were exchanged, compared to its average volume of 748,995. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $77.00. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 16.06, a price-to-earnings-growth ratio of 0.77 and a beta of 0.53. The firm's 50-day moving average price is $55.90 and its 200 day moving average price is $51.08.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its 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 company 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 business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.69 earnings per share. On average, sell-side analysts anticipate that Concentrix Corporation will post 10.11 earnings per share for the current fiscal 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 issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.27%. Concentrix's payout ratio is currently 36.54%.

Concentrix Company 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.