Teza Capital Management LLC Purchases Shares of 26,560 Concentrix Co. (NASDAQ:CNXC)

Teza Capital Management LLC purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,560 shares of the company's stock, valued at approximately $1,149,000.

Several other large investors have also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC raised its holdings in Concentrix by 53.7% during the fourth quarter. Snowden Capital Advisors LLC now owns 9,213 shares of the company's stock worth $399,000 after purchasing an additional 3,220 shares in the last quarter. Quantinno Capital Management LP raised its holdings in Concentrix by 131.3% during the fourth quarter. Quantinno Capital Management LP now owns 72,181 shares of the company's stock worth $3,123,000 after purchasing an additional 40,980 shares in the last quarter. Man Group plc grew its position in Concentrix by 6,212.9% during the fourth quarter. Man Group plc now owns 355,670 shares of the company's stock worth $15,390,000 after buying an additional 350,036 shares during the period. Nomura Holdings Inc. acquired a new position in Concentrix during the fourth quarter worth about $268,000. Finally, Numerai GP LLC acquired a new position in Concentrix during the fourth quarter worth about $853,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CNXC shares. Bank of America upped 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 lowered their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Concentrix currently has a consensus rating of "Buy" and a consensus price target of $65.75.

Insider Buying and Selling

In other news, CEO Christopher A. Caldwell bought 1,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the transaction, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. The trade was a 0.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the sale, the executive vice president now owns 39,130 shares in the company, valued at approximately $2,164,280.30. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,444 shares of company stock worth $1,481,628. 3.20% of the stock is owned by insiders.

Concentrix Price Performance

Shares of CNXC stock traded down $0.55 during trading hours on Wednesday, hitting $55.59. The company's stock had a trading volume of 494,195 shares, compared to its average volume of 707,065. The business has a fifty day moving average of $50.48 and a 200-day moving average of $47.11. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 14.98, a P/E/G ratio of 0.63 and a beta of 0.52. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17.

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

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were given a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.39%. Concentrix's dividend payout ratio (DPR) is currently 33.33%.

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.