Jupiter Asset Management Ltd. Takes $19.39 Million Position in Concentrix Corporation $CNXC

Key Points

• Jupiter Asset Management disclosed a new fourth-quarter position in Concentrix, buying 466,200 shares valued at about $19.4 million and representing roughly 0.76% of the company.
• Concentrix reported mixed quarterly results, with EPS of $2.61 missing estimates by a small amount while revenue of $2.50 billion came in slightly above expectations and rose 5.4% year over year.
• The company paid a quarterly dividend of $0.36 per share, equal to an annualized yield of about 5.1%, while analysts currently hold a consensus rating of “Hold” with a $48.50 price target.

Jupiter Asset Management Ltd. purchased a new position in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 466,200 shares of the company's stock, valued at approximately $19,385,000. Jupiter Asset Management Ltd. owned about 0.76% of Concentrix as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Huntington National Bank lifted its position in Concentrix by 6,011.1% in the third quarter. Huntington National Bank now owns 550 shares of the company's stock worth $25,000 after buying an additional 541 shares during the last quarter. Larson Financial Group LLC lifted its position in Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company's stock worth $32,000 after buying an additional 479 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after buying an additional 522 shares during the last quarter. Rothschild Investment LLC lifted its position in Concentrix by 14,980.0% in the third quarter. Rothschild Investment LLC now owns 754 shares of the company's stock worth $35,000 after buying an additional 749 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its position in Concentrix by 1,032.5% in the fourth quarter. Global Retirement Partners LLC now owns 872 shares of the company's stock worth $36,000 after buying an additional 795 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Concentrix

In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm's stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the transaction, the insider owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andre S. Valentine bought 2,500 shares of the business's stock in a transaction on Thursday, April 9th. The stock was bought at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the purchase, the chief financial officer directly owned 89,066 shares of the company's stock, valued at $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.90% of the company's stock.

Concentrix Stock Performance

Shares of Concentrix stock opened at $28.29 on Friday. The firm has a market cap of $1.73 billion, a P/E ratio of -1.31, a P/E/G ratio of 0.33 and a beta of 0.37. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.43. Concentrix Corporation has a 12 month low of $22.05 and a 12 month high of $62.14. The stock's fifty day moving average price is $26.64 and its 200-day moving average price is $33.48.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.04). The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 EPS. On average, equities research analysts expect that Concentrix Corporation will post 10.42 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, April 24th. This represents a $1.44 annualized dividend and a dividend yield of 5.1%. Concentrix's dividend payout ratio (DPR) is currently -6.68%.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of analyst reports. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Robert W. Baird decreased their target price on Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of Concentrix in a research report on Monday, April 27th. Barrington Research decreased their target price on Concentrix from $62.00 to $38.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Finally, Canaccord Genuity Group decreased their target price on Concentrix from $80.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Concentrix has a consensus rating of "Hold" and a consensus price target of $48.50.

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.

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