SG Americas Securities LLC Acquires Shares of 6,230 Concentrix Corporation (NASDAQ:CNXC)

SG Americas Securities LLC purchased a new position in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 6,230 shares of the company's stock, valued at approximately $347,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after buying an additional 286 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after buying an additional 217 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Concentrix by 159.6% during 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 during the last quarter. Parkside Financial Bank & Trust lifted 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 buying an additional 444 shares during the last quarter. Finally, Versant Capital Management Inc lifted its position in shares of Concentrix by 582.5% during the 1st quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock worth $117,000 after buying an additional 1,800 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

Concentrix Stock Performance

Shares of Concentrix stock traded down $3.42 during trading on Friday, reaching $51.71. The company's stock had a trading volume of 2,359,685 shares, compared to its average volume of 734,237. The company has a 50-day moving average price of $53.86 and a two-hundred day moving average price of $49.54. The firm has a market cap of $3.30 billion, a PE ratio of 14.21, a P/E/G ratio of 0.67 and a beta of 0.56. Concentrix Corporation has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. The company has a current ratio of 1.61, a quick ratio of 1.65 and a debt-to-equity ratio of 1.14.

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

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th will be issued a $0.3328 dividend. The ex-dividend date is Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.57%. Concentrix's payout ratio is 33.33%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America reduced their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Barrington Research restated an "outperform" rating and set a $54.00 price objective on shares of Concentrix in a research report on Tuesday, June 24th. Finally, Robert W. Baird boosted their price objective on shares of Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.75.

Insider Activity

In other news, CEO Christopher A. Caldwell acquired 1,000 shares of the company's stock in a transaction 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 purchase, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $57.06, for a total transaction of $28,530.00. Following the completion of the transaction, the executive vice president now directly owns 38,130 shares in the company, valued at $2,175,697.80. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,944 shares of company stock valued at $1,510,158 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.