Concentrix Co. (NASDAQ:CNXC) Shares Bought by Cwm LLC

Cwm LLC grew its holdings in Concentrix Co. (NASDAQ:CNXC) by 34.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,682 shares of the company’s stock after buying an additional 2,224 shares during the period. Cwm LLC’s holdings in Concentrix were worth $445,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Hexagon Capital Partners LLC raised its holdings in Concentrix by 2,992.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock valued at $25,000 after buying an additional 389 shares during the period. GAMMA Investing LLC increased its position in shares of Concentrix by 1,005.0% during the second quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after acquiring an additional 402 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Concentrix by 54.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock valued at $51,000 after acquiring an additional 285 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Concentrix in the 2nd quarter worth approximately $68,000. Finally, Quarry LP boosted its position in shares of Concentrix by 769.9% during the 2nd quarter. Quarry LP now owns 1,244 shares of the company’s stock worth $79,000 after purchasing an additional 1,101 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CNXC. Robert W. Baird assumed coverage on Concentrix in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price on the stock. Bank of America cut their price objective on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Baird R W raised Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Barrington Research dropped their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Finally, Canaccord Genuity Group reduced their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Concentrix currently has an average rating of “Buy” and an average price target of $79.00.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $52.70, for a total transaction of $517,672.10. Following the completion of the transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.38, for a total transaction of $79,330.72. Following the completion of the sale, the executive vice president now owns 27,783 shares in the company, valued at $1,427,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $52.70, for a total value of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,167 shares of company stock valued at $653,747. 3.00% of the stock is currently owned by corporate insiders.

Concentrix Stock Down 2.5 %

Shares of NASDAQ CNXC opened at $49.06 on Monday. Concentrix Co. has a 12-month low of $45.61 and a 12-month high of $106.10. The stock has a market cap of $3.21 billion, a P/E ratio of 11.36, a PEG ratio of 0.68 and a beta of 0.58. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. The business’s fifty day simple moving average is $62.36 and its 200-day simple moving average is $62.28.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the business earned $2.54 EPS. Concentrix’s revenue for the quarter was up 46.2% on a year-over-year basis. As a group, equities analysts predict that Concentrix Co. will post 10.18 EPS for the current fiscal year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be given a dividend of $0.333 per share. The ex-dividend date is Friday, October 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.72%. Concentrix’s payout ratio is currently 30.79%.

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.