5,387 Shares in Concentrix Corporation (NASDAQ:CNXC) Bought by Parcion Private Wealth LLC

Parcion Private Wealth LLC purchased a new position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,387 shares of the company's stock, valued at approximately $300,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC grew its stake in shares of Concentrix by 81.3% in the fourth 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. Raymond James Financial Inc. acquired a new position in shares of Concentrix in the fourth quarter valued at about $4,752,000. Avantax Advisory Services Inc. grew its stake in shares of Concentrix by 26.0% in the fourth quarter. Avantax Advisory Services Inc. now owns 7,056 shares of the company's stock valued at $305,000 after acquiring an additional 1,457 shares in the last quarter. Boston Partners grew its stake in shares of Concentrix by 51.2% in the fourth quarter. Boston Partners now owns 533,144 shares of the company's stock valued at $23,576,000 after acquiring an additional 180,581 shares in the last quarter. Finally, Xponance Inc. grew its stake in shares of Concentrix by 8.9% in the fourth quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after acquiring an additional 455 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Concentrix Price Performance

CNXC stock traded up $0.80 during mid-day trading on Friday, reaching $58.33. 504,506 shares of the company traded hands, compared to its average volume of 750,861. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61. The company has a market capitalization of $3.68 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.77 and a beta of 0.53. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $77.00. The company has a fifty day moving average price of $55.90 and a 200-day moving average price of $51.02.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). Concentrix had a return on equity of 16.31% and a net margin of 2.54%. The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the previous year, the firm posted $2.69 EPS. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. As a group, analysts anticipate that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th will be paid a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.28%. The ex-dividend date is Friday, July 25th. Concentrix's dividend payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CNXC shares. Bank of America dropped their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, June 27th. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Robert W. Baird lifted their price target on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Canaccord Genuity Group restated a "buy" rating and set a $80.00 price objective on shares of Concentrix in a research note on Monday, June 30th. Finally, Barrington Research restated an "outperform" rating and set a $54.00 price objective on shares of Concentrix in a research note on Tuesday, June 24th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $66.75.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $57.06, for a total value of $28,530.00. Following the completion of the sale, the executive vice president owned 38,130 shares in the company, valued at approximately $2,175,697.80. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the stock in a transaction on Monday, April 21st. The stock was bought at an average price of $46.00 per share, with a total value of $46,000.00. Following the transaction, the chief executive officer directly owned 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. 3.20% of the stock is owned by corporate insiders.

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.