9,038 Shares in Concentrix Corporation (NASDAQ:CNXC) Purchased by Summit Trail Advisors LLC

Summit Trail Advisors LLC acquired a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 9,038 shares of the company's stock, valued at approximately $503,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its holdings in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares during the period. UMB Bank n.a. raised its holdings in shares of Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares during the period. Fifth Third Bancorp boosted its position in shares of Concentrix by 36.5% during the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after purchasing an additional 548 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Concentrix by 582.5% in the 1st quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock valued at $117,000 after buying an additional 1,800 shares during the period. Finally, GAMMA Investing LLC increased its position in Concentrix by 761.3% in the 1st quarter. GAMMA Investing LLC now owns 2,446 shares of the company's stock valued at $136,000 after buying an additional 2,162 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell purchased 1,000 shares of the firm'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 directly owned 303,362 shares in the company, valued at approximately $13,954,652. This trade represents a 0.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Friday, May 30th. The stock was 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 directly owned 38,130 shares in the company, valued at $2,175,697.80. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,444 shares of company stock worth $1,482,503. 3.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CNXC. 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, June 26th. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Bank of America dropped their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a research note on Friday, June 27th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 target price on shares of Concentrix in a research report on Monday. Finally, Barrington Research reissued an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a research report on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $66.75.

Concentrix Stock Performance

Shares of Concentrix stock traded down $0.28 during mid-day trading on Friday, hitting $56.50. 598,176 shares of the stock were exchanged, compared to its average volume of 738,634. Concentrix Corporation has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a 50-day simple moving average of $54.56 and a 200 day simple moving average of $49.90. The company has a market capitalization of $3.61 billion, a P/E ratio of 15.52, a P/E/G ratio of 0.75 and a beta of 0.53. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.65 and a current ratio of 1.61.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly 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). Concentrix had a net margin of 2.54% and a return on equity of 16.31%. 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 business posted $2.69 earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. Sell-side analysts anticipate that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Friday, July 25th will be issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date is Friday, July 25th. Concentrix's dividend payout ratio (DPR) is currently 36.54%.

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.