Sivia Capital Partners LLC Makes New Investment in Concentrix Co. (NASDAQ:CNXC)

Sivia Capital Partners LLC bought a new position in Concentrix Co. (NASDAQ:CNXC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,676 shares of the company's stock, valued at approximately $260,000.

A number of other large investors have also bought and sold shares of the business. Steward Partners Investment Advisory LLC increased its holdings 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 purchasing an additional 286 shares in the last quarter. Rhumbline Advisers boosted its position in Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after buying an additional 324 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after buying an additional 444 shares during the period. Xponance Inc. raised its position in shares of Concentrix by 8.9% during the fourth quarter. Xponance Inc. now owns 5,540 shares of the company's stock worth $240,000 after acquiring an additional 455 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after acquiring an additional 490 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Concentrix news, CEO Christopher A. Caldwell acquired 1,000 shares of the stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 303,362 shares of the company's stock, valued at approximately $13,954,652. This trade represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of Concentrix 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 sale, the executive vice president now owns 38,130 shares in the company, valued at $2,175,697.80. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 30,944 shares of company stock worth $1,510,158. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CNXC. Barrington Research lowered their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Bank of America raised their target price on shares of Concentrix from $59.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $67.25.

Concentrix Trading Down 0.3%

CNXC traded down $0.17 during midday trading on Thursday, reaching $57.15. 753,610 shares of the company were exchanged, compared to its average volume of 715,842. The stock has a market capitalization of $3.65 billion, a P/E ratio of 15.40, a PEG ratio of 0.63 and a beta of 0.56. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The stock's 50-day simple moving average is $52.35 and its 200 day simple moving average is $48.71. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping 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 business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter last year, the firm earned $2.57 EPS. Concentrix's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were paid a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a yield of 2.33%. The ex-dividend date was Friday, April 25th. Concentrix's payout ratio is presently 33.33%.

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.