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

SG Americas Securities LLC acquired a new position in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,230 shares of the company's stock, valued at approximately $347,000.

Several other hedge funds have also modified their holdings of CNXC. UMB Bank n.a. grew its position in Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after purchasing an additional 286 shares in the last quarter. Rhumbline Advisers increased its stake in Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock worth $5,565,000 after purchasing an additional 324 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Concentrix by 58.7% in the fourth 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 period. Finally, Xponance Inc. increased its position in shares of Concentrix by 8.9% in the fourth quarter. Xponance Inc. now owns 5,540 shares of the company's stock worth $240,000 after acquiring an additional 455 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on CNXC shares. Bank of America lowered their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock 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 reaffirmed an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a research report on Tuesday. Finally, Robert W. Baird upped their price target on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Concentrix currently has a consensus rating of "Moderate Buy" and an average price target of $66.75.

Concentrix Stock Performance

Shares of NASDAQ CNXC traded down $3.42 during trading hours on Friday, hitting $51.71. 2,359,685 shares of the stock were exchanged, compared to its average volume of 734,321. Concentrix Corporation has a one year low of $36.28 and a one year high of $77.00. The company's 50 day moving average is $53.78 and its 200 day moving average is $49.42. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a market capitalization of $3.30 billion, a P/E ratio of 5.33, a P/E/G ratio of 0.71 and a beta of 0.56.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). Concentrix had a net margin of 2.54% and a return on equity of 16.51%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the company earned $2.69 earnings per share. The firm's revenue was up 1.5% on a year-over-year basis. On average, research analysts expect that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Announces Dividend

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

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell acquired 1,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the purchase, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. This represents a 0.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the transaction, the executive vice president now directly owns 39,130 shares of the company's stock, valued at $2,164,280.30. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,944 shares of company stock worth $1,510,158. Insiders own 3.20% of the company's stock.

Concentrix Company 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.