Janney Montgomery Scott LLC Takes Position in Concentrix Corporation (NASDAQ:CNXC)

Janney Montgomery Scott LLC acquired a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,894 shares of the company's stock, valued at approximately $495,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after buying an additional 217 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Concentrix by 81.3% during 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 in the last quarter. Xponance Inc. grew its stake in Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after acquiring an additional 455 shares during the period. Fifth Third Bancorp increased its holdings in Concentrix by 36.5% in the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after acquiring an additional 548 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Concentrix by 21.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company's stock worth $140,000 after acquiring an additional 580 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barrington Research reissued an "outperform" rating and set a $54.00 target price on shares of Concentrix in a report on Tuesday, June 24th. Bank of America cut their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, June 27th. Robert W. Baird boosted their target price on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Wall Street Zen lowered Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 target price on shares of Concentrix in a research note on Monday. 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $66.75.

Insiders Place Their Bets

In other Concentrix news, CEO Christopher A. Caldwell acquired 1,000 shares of the company's stock in a transaction that occurred on Monday, April 21st. The stock was purchased at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer owned 303,362 shares of the company's stock, valued at approximately $13,954,652. This trade represents a 0.33% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the sale, the director directly owned 1,155,862 shares in the company, valued at approximately $56,082,424.24. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,444 shares of company stock worth $1,482,503 over the last three months. Company insiders own 3.20% of the company's stock.

Concentrix Trading Down 0.5%

Shares of Concentrix stock traded down $0.28 on Friday, reaching $56.50. The company had a trading volume of 598,176 shares, compared to its average volume of 738,634. The firm's 50 day moving average price is $54.56 and its two-hundred day moving average price is $49.90. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.65 and a current ratio of 1.61. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $77.00. The firm has a market cap of $3.61 billion, a PE ratio of 15.52, a PEG ratio of 0.75 and a beta of 0.53.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its 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). Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the previous year, the firm earned $2.69 EPS. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. Sell-side analysts predict that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th will be given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.36%. The ex-dividend date is Friday, July 25th. Concentrix's dividend payout ratio 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.