Numerai GP LLC Makes New Investment in Concentrix Co. (NASDAQ:CNXC)

Numerai GP LLC acquired a new stake in Concentrix Co. (NASDAQ:CNXC - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,706 shares of the company's stock, valued at approximately $853,000.

A number of other institutional investors have also recently made changes to their positions in CNXC. Steward Partners Investment Advisory LLC lifted its stake 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 acquiring an additional 286 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after buying an additional 490 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after buying an additional 444 shares during the last quarter. KBC Group NV boosted its position in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after acquiring an additional 815 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Concentrix by 843.9% during the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after acquiring an additional 2,270 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Activity at Concentrix

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

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Barrington Research cut their target price on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Bank of America raised their price objective on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. One 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. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $65.75.

Concentrix Stock Performance

NASDAQ:CNXC traded up $0.21 during mid-day trading on Tuesday, reaching $56.26. The stock had a trading volume of 71,770 shares, compared to its average volume of 704,361. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The business has a 50 day simple moving average of $50.01 and a 200 day simple moving average of $46.99. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.16, a PEG ratio of 0.63 and a beta of 0.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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%. The business's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.57 EPS. On average, analysts expect that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio is currently 33.33%.

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.