Concentrix Corporation (NASDAQ:CNXC) Stock Holdings Raised by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 687.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,270 shares of the company's stock after purchasing an additional 43,888 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.08% of Concentrix worth $2,797,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new stake in shares of Concentrix during the 4th quarter valued at $294,000. Raymond James Financial Inc. purchased a new position in shares of Concentrix in the 4th quarter worth about $4,752,000. Fifth Third Bancorp lifted its stake in shares of Concentrix by 36.5% in the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after purchasing an additional 548 shares in the last quarter. American Century Companies Inc. acquired a new position in shares of Concentrix in the 4th quarter valued at about $539,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in shares of Concentrix during the 4th quarter worth about $294,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Stock Up 6.4%

NASDAQ:CNXC traded up $3.38 during trading hours on Tuesday, hitting $56.23. The stock had a trading volume of 909,016 shares, compared to its average volume of 736,593. The company has a market cap of $3.59 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. The business has a 50 day simple moving average of $54.15 and a two-hundred day simple moving average of $49.65. Concentrix Corporation has a 1-year low of $36.28 and a 1-year high of $77.00. The company has a current ratio of 1.61, a quick ratio of 1.65 and a debt-to-equity ratio of 1.14.

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

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th will be given a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend is Friday, July 25th. Concentrix's payout ratio is 33.33%.

Analysts Set New Price Targets

CNXC has been the topic of several research reports. Barrington Research restated an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a report on Tuesday, June 24th. Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a research report on Monday. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Robert W. Baird upped their price target 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. Finally, Bank of America lowered their price target on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $66.75.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $57.06, for a total value of $28,530.00. Following the completion of the transaction, the executive vice president owned 38,130 shares of the company's stock, valued at approximately $2,175,697.80. This represents a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the company's stock in a transaction on Monday, April 21st. The shares were acquired at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer directly owned 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 disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 30,444 shares of company stock valued at $1,482,503. 3.20% of the stock is currently owned by insiders.

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.