XTX Topco Ltd Makes New $246,000 Investment in Concentrix Co. (NASDAQ:CNXC)

XTX Topco Ltd purchased a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,693 shares of the company's stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CNXC. Barclays PLC increased its stake in shares of Concentrix by 83.9% in the 4th quarter. Barclays PLC now owns 65,934 shares of the company's stock valued at $2,853,000 after acquiring an additional 30,072 shares during the last quarter. Bragg Financial Advisors Inc grew its holdings in Concentrix by 8.6% during the fourth quarter. Bragg Financial Advisors Inc now owns 220,926 shares of the company's stock valued at $9,559,000 after purchasing an additional 17,485 shares during the period. Sterling Capital Management LLC increased its stake in Concentrix by 49.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock valued at $122,000 after purchasing an additional 935 shares in the last quarter. Covestor Ltd raised its holdings in Concentrix by 18.7% in the fourth quarter. Covestor Ltd now owns 16,090 shares of the company's stock worth $697,000 after purchasing an additional 2,536 shares during the period. Finally, Neuberger Berman Group LLC boosted its position in shares of Concentrix by 42.4% during the fourth quarter. Neuberger Berman Group LLC now owns 55,327 shares of the company's stock worth $2,394,000 after purchasing an additional 16,479 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Transactions at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total value of $1,428,622.88. Following the sale, the director now directly owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. This represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the business'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 value of $27,655.00. Following the transaction, the executive vice president now directly 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. Insiders have sold a total of 30,444 shares of company stock worth $1,481,628 in the last 90 days. Corporate insiders own 3.20% of the company's stock.

Concentrix Stock Down 0.2 %

Shares of NASDAQ CNXC traded down $0.12 during midday trading on Friday, reaching $50.51. The company's stock had a trading volume of 59,483 shares, compared to its average volume of 699,899. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. The stock has a 50 day simple moving average of $47.99 and a 200-day simple moving average of $46.37. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 0.63 and a beta of 0.51. 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 issued its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.57 EPS. Equities research analysts predict that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The business 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 $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.64%. Concentrix's dividend payout ratio is 33.33%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Barrington Research lowered their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Canaccord Genuity Group lowered their price target on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Finally, Bank of America lifted their price objective on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $65.75.

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.