Paradigm Capital Management Inc. NY Has $32.46 Million Stake in Concentrix Co. (NASDAQ:CNXC)

Paradigm Capital Management Inc. NY boosted its holdings in Concentrix Co. (NASDAQ:CNXC - Free Report) by 2.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 750,142 shares of the company's stock after purchasing an additional 19,418 shares during the period. Concentrix comprises about 1.5% of Paradigm Capital Management Inc. NY's portfolio, making the stock its 20th largest holding. Paradigm Capital Management Inc. NY owned 1.16% of Concentrix worth $32,459,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its holdings 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. Venturi Wealth Management LLC grew its stake in Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after purchasing an additional 490 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after purchasing an additional 444 shares during the last quarter. KBC Group NV raised its stake in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after purchasing an additional 815 shares in the last quarter. Finally, Quarry LP raised its stake in shares of Concentrix by 843.9% during the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after purchasing an additional 2,270 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barrington Research decreased their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. Bank of America boosted their price target on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $65.75.

Insiders Place Their Bets

In related news, CEO Christopher A. Caldwell purchased 1,000 shares of Concentrix stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $46.00 per share, with a total value of $46,000.00. Following the completion of the transaction, the chief executive officer now directly owns 303,362 shares of the company's stock, valued at $13,954,652. This represents a 0.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Monday, March 31st. The shares were 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 directly owns 39,130 shares of the company's stock, valued at $2,164,280.30. This represents a 1.26% 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 $1,481,628 in the last 90 days. Company insiders own 3.20% of the company's stock.

Concentrix Price Performance

NASDAQ:CNXC opened at $56.05 on Tuesday. The company has a market cap of $3.58 billion, a P/E ratio of 15.11, a P/E/G ratio of 0.63 and a beta of 0.52. The firm's fifty day moving average price is $50.01 and its two-hundred day moving average price is $46.99. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating 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 firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. During the same period in the prior year, the firm earned $2.57 EPS. The business's revenue was down 1.3% on a year-over-year basis. Equities analysts expect 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. Shareholders of record on Friday, April 25th were issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio is 33.33%.

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.

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