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

Paradigm Capital Management Inc. NY lifted its stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 2.7% during the fourth quarter, according to its most recent disclosure 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 makes up about 1.5% of Paradigm Capital Management Inc. NY's investment portfolio, making the stock its 20th biggest position. Paradigm Capital Management Inc. NY owned approximately 1.16% of Concentrix worth $32,459,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Thompson Investment Management Inc. raised its position in shares of Concentrix by 1,232.8% during the fourth quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company's stock worth $6,076,000 after acquiring an additional 129,876 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Concentrix in the 4th quarter valued at about $4,752,000. American Century Companies Inc. bought a new stake in shares of Concentrix during the fourth quarter worth approximately $539,000. Y Intercept Hong Kong Ltd bought a new position in Concentrix in the fourth quarter valued at approximately $294,000. Finally, Bleakley Financial Group LLC acquired a new position in shares of Concentrix in the 4th quarter valued at $276,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Activity

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total value of $25,350.00. Following the sale, the executive vice president now owns 38,630 shares of the company's stock, valued at approximately $1,958,541. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher A. Caldwell purchased 1,000 shares of Concentrix stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average cost 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 approximately $13,954,652. The trade was a 0.33% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 30,444 shares of company stock worth $1,481,628 over the last three months. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNXC. Barrington Research lowered their price target on 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 increased their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. 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. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $65.75.

Concentrix Stock Down 0.9%

Shares of NASDAQ:CNXC traded down $0.49 during trading on Friday, hitting $55.71. 352,653 shares of the company's stock traded hands, compared to its average volume of 709,343. The company has a 50-day moving average price of $50.87 and a 200-day moving average price of $47.34. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.56 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52.

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 company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.37 billion. During the same quarter in the prior year, the company earned $2.57 earnings per share. The business's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were paid a $0.3328 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.39%. 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.