LSV Asset Management Has $10.70 Million Stock Position in Concentrix Corporation $CNXC

LSV Asset Management increased its position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 257,251 shares of the company's stock after buying an additional 73,700 shares during the quarter. LSV Asset Management owned about 0.42% of Concentrix worth $10,696,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Osaic Holdings Inc. raised its stake in shares of Concentrix by 13.4% in the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company's stock worth $118,000 after purchasing an additional 263 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of Concentrix by 26.4% in the third quarter. Clearstead Advisors LLC now owns 1,650 shares of the company's stock valued at $76,000 after acquiring an additional 345 shares in the last quarter. Brevan Howard Capital Management LP grew its holdings in shares of Concentrix by 4.5% in the second quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company's stock valued at $473,000 after acquiring an additional 384 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Concentrix by 1.1% in the second quarter. California State Teachers Retirement System now owns 36,387 shares of the company's stock valued at $1,923,000 after acquiring an additional 384 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its holdings in shares of Concentrix by 7.5% in the third quarter. Orion Porfolio Solutions LLC now owns 5,679 shares of the company's stock valued at $262,000 after acquiring an additional 398 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on CNXC shares. Robert W. Baird reduced their price objective on Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Wall Street Zen lowered Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Barrington Research lowered their price objective on Concentrix from $62.00 to $38.00 and set an "outperform" rating on the stock 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. Finally, Canaccord Genuity Group lowered their price target on Concentrix from $80.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Concentrix presently has an average rating of "Hold" and an average target price of $48.50.

Insider Activity at Concentrix

In other news, CFO Andre S. Valentine acquired 2,500 shares of the business's stock in a transaction on Thursday, April 9th. The shares were acquired at an average cost of $27.95 per share, with a total value of $69,875.00. Following the transaction, the chief financial officer owned 89,066 shares in the company, valued at $2,489,394.70. The trade was a 2.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of Concentrix stock in a transaction that occurred on Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total value of $133,500,000.00. Following the sale, the insider directly owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. The trade was a 68.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.90% of the company's stock.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $26.34 on Tuesday. Concentrix Corporation has a 1 year low of $22.05 and a 1 year high of $62.14. The company has a market cap of $1.61 billion, a PE ratio of -1.22, a P/E/G ratio of 0.33 and a beta of 0.37. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18. The stock's 50-day moving average is $27.04 and its 200 day moving average is $33.74.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The business had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the prior year, the firm earned $2.79 EPS. The firm's revenue for the quarter was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Concentrix Corporation will post 10.42 EPS for the current year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, April 24th. Concentrix's payout ratio is presently -6.68%.

Concentrix Profile

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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