Universal Beteiligungs und Servicegesellschaft mbH Acquires New Holdings in Concentrix Corporation (NASDAQ:CNXC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Concentrix Corporation by purchasing 34,714 shares valued at approximately $1.93 million, representing 0.05% of the company.
• Concentrix recently announced a quarterly dividend of $0.3328 per share, with an upcoming payment date of August 5th, indicating a dividend yield of 2.41%.
• Despite revenue growth of 1.5% year-over-year, Concentrix's earnings per share fell short of analysts' expectations in its latest quarterly report, signaling potential concerns regarding profitability.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 34,714 shares of the company's stock, valued at approximately $1,931,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.05% of Concentrix at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CNXC. Y Intercept Hong Kong Ltd increased its stake in shares of Concentrix by 695.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 54,046 shares of the company's stock valued at $3,007,000 after acquiring an additional 47,255 shares during the last quarter. Allianz Asset Management GmbH acquired a new position in shares of Concentrix during the 1st quarter valued at about $4,291,000. Hussman Strategic Advisors Inc. acquired a new position in shares of Concentrix during the 1st quarter valued at about $3,505,000. Napatree Capital LLC acquired a new position in shares of Concentrix during the 1st quarter valued at about $732,000. Finally, Parcion Private Wealth LLC acquired a new position in shares of Concentrix during the 1st quarter valued at about $300,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a research note 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 for the company in a research note on Friday, June 27th. Robert W. Baird increased their target price on shares of Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Canaccord Genuity Group reissued a "buy" rating and set a $80.00 target price on shares of Concentrix in a research report on Monday, June 30th. Finally, Barrington Research reissued an "outperform" rating and set a $54.00 target price on shares of Concentrix in a research report on Tuesday, June 24th. Two 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total value of $28,955.00. Following the sale, the executive vice president directly owned 37,130 shares of the company's stock, valued at $2,150,198.30. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by company insiders.

Concentrix Stock Up 1.0%

NASDAQ CNXC traded up $0.45 on Monday, reaching $46.67. The company had a trading volume of 469,015 shares, compared to its average volume of 809,553. The firm has a market capitalization of $2.94 billion, a PE ratio of 12.82, a P/E/G ratio of 0.62 and a beta of 0.53. Concentrix Corporation has a 1 year low of $36.28 and a 1 year high of $77.00. The firm has a 50-day moving average of $56.23 and a 200-day moving average of $51.84. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). The business had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $2.69 earnings per share. On average, equities research analysts anticipate that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Friday, July 25th will be paid a dividend of $0.3328 per share. The ex-dividend date is Friday, July 25th. This represents a $1.33 annualized dividend and a yield of 2.9%. Concentrix's dividend payout ratio (DPR) is 36.54%.

Concentrix 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.