10,352 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by Two Sigma Securities LLC

Two Sigma Securities LLC purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,352 shares of the company's stock, valued at approximately $448,000.

A number of other hedge funds have also recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC raised 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 valued at $28,000 after purchasing an additional 286 shares in the last quarter. Rhumbline Advisers increased its stake in Concentrix by 0.3% in the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after acquiring an additional 324 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after purchasing an additional 444 shares during the last quarter. Xponance Inc. boosted its holdings in shares of Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after purchasing an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after buying an additional 490 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CNXC shares. Canaccord Genuity Group reduced their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Bank of America lifted their price target on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Finally, Barrington Research cut their target price 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 research 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 stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $65.75.

Insider Buying and Selling at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total transaction of $25,350.00. Following the sale, the executive vice president now directly owns 38,630 shares in the company, valued at approximately $1,958,541. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the firm'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 acquisition, the chief executive officer now directly owns 303,362 shares of the company's stock, valued at $13,954,652. The trade was a 0.33 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders sold 30,444 shares of company stock worth $1,481,628. Insiders own 3.20% of the company's stock.

Concentrix Trading Up 0.6 %

Shares of NASDAQ:CNXC traded up $0.29 during midday trading on Friday, reaching $50.92. The company's stock had a trading volume of 185,197 shares, compared to its average volume of 905,038. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 13.73, a PEG ratio of 0.63 and a beta of 0.51. The firm has a 50 day moving average price of $47.99 and a two-hundred day moving average price of $46.37. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion during 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%. Concentrix's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.57 EPS. As a group, analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.3328 per share. The ex-dividend date is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.61%. Concentrix's dividend payout ratio (DPR) is presently 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.