NorthCrest Asset Manangement LLC Takes Position in Concentrix Co. (NASDAQ:CNXC)

NorthCrest Asset Manangement LLC bought a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,102 shares of the company's stock, valued at approximately $340,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CNXC. Steward Partners Investment Advisory LLC raised its holdings in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after acquiring an additional 286 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after purchasing an additional 490 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in shares of Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after buying an additional 444 shares during the last quarter. Finally, Quarry LP increased its holdings in Concentrix by 843.9% in the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after buying an additional 2,270 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Concentrix Trading Up 4.6%

Shares of CNXC stock traded up $2.56 during trading hours on Monday, reaching $57.88. 594,754 shares of the stock were exchanged, compared to its average volume of 717,447. The firm has a market capitalization of $3.70 billion, a price-to-earnings ratio of 15.60, a price-to-earnings-growth ratio of 0.63 and a beta of 0.56. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00. The company's 50-day moving average price is $52.74 and its 200-day moving average price is $48.93. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the business posted $2.57 EPS. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, equities analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were paid 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 2.30%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Barrington Research dropped their price target on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Bank of America increased their target price on Concentrix from $59.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, June 9th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $67.25.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the transaction, the executive vice president now owns 39,130 shares of the company's stock, valued at $2,164,280.30. The trade was a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Olivier Duha sold 29,444 shares of the stock in a transaction dated 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 now directly owns 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. Over the last three months, insiders have sold 30,944 shares of company stock valued at $1,510,158. Corporate insiders own 3.20% of the company's stock.

About Concentrix

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.