Teza Capital Management LLC Takes Position in Concentrix Co. (NASDAQ:CNXC)

Teza Capital Management LLC acquired a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 26,560 shares of the company's stock, valued at approximately $1,149,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in Concentrix by 81.3% during 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. Venturi Wealth Management LLC grew its position in 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 purchasing an additional 490 shares in the last quarter. Parkside Financial Bank & Trust grew its position in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after purchasing an additional 444 shares in the last quarter. KBC Group NV grew its position in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after purchasing an additional 815 shares in the last quarter. Finally, Quarry LP grew its position in Concentrix by 843.9% during the fourth quarter. Quarry LP now owns 2,539 shares of the company's stock valued at $110,000 after purchasing an additional 2,270 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CNXC. Bank of America boosted their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Barrington Research decreased their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. One investment 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. According to data from MarketBeat.com, Concentrix has an average rating of "Buy" and an average price target of $65.75.

Insider Buying and Selling

In related news, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the completion of the transaction, the director now directly owns 1,155,862 shares in the company, valued at $56,082,424.24. This represents a 2.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Christopher A. Caldwell bought 1,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average price of $46.00 per share, with a total value of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 303,362 shares in the company, valued at approximately $13,954,652. The trade was a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 30,444 shares of company stock valued at $1,481,628. Company insiders own 3.20% of the company's stock.

Concentrix Stock Down 0.9%

CNXC stock traded down $0.49 during trading hours on Friday, hitting $55.71. The company's stock had a trading volume of 352,653 shares, compared to its average volume of 709,343. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $3.56 billion, a PE ratio of 15.02, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The stock has a 50 day moving average price of $50.87 and a two-hundred day moving average price of $47.34.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.57 EPS. On average, equities research analysts expect that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio is currently 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.