Millennium Management LLC Has $25.04 Million Position in Concentrix Co. (NASDAQ:CNXC)

Millennium Management LLC lifted its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 232.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 578,700 shares of the company's stock after buying an additional 404,885 shares during the period. Millennium Management LLC owned approximately 0.90% of Concentrix worth $25,040,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position 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 acquiring an additional 286 shares in the last quarter. Rhumbline Advisers lifted its position in Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock worth $5,565,000 after buying an additional 324 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after buying an additional 444 shares in the last quarter. Xponance Inc. lifted its position in Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock worth $240,000 after buying an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after buying an additional 490 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Performance

NASDAQ:CNXC traded down $0.49 during midday trading on Friday, reaching $55.71. The stock had a trading volume of 352,653 shares, compared to its average volume of 709,343. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $3.56 billion, a P/E ratio of 15.02, a PEG ratio of 0.63 and a beta of 0.52. The firm's fifty day simple moving average is $50.87 and its 200-day simple moving average is $47.37. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the business posted $2.57 EPS. The business's quarterly revenue was down 1.3% on a year-over-year basis. On average, equities research analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were given a dividend of $0.3328 per share. The ex-dividend date was Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.39%. Concentrix's dividend payout ratio (DPR) is currently 33.33%.

Analyst Ratings Changes

CNXC has been the topic of a number of recent research reports. Barrington Research cut their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Bank of America raised their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $65.75.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell purchased 1,000 shares of the company'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 purchase, the chief executive officer now directly owns 303,362 shares in the company, valued at approximately $13,954,652. This represents a 0.33% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the sale, the executive vice president now directly owns 39,130 shares of the company's stock, valued at approximately $2,164,280.30. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,444 shares of company stock worth $1,481,628. Corporate insiders own 3.20% of the company's stock.

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.