Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. raised its position in shares of Concentrix Co. (NASDAQ:CNXC) by 41.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,013 shares of the company’s stock after buying an additional 13,257 shares during the quarter. Harbor Capital Advisors Inc. owned about 0.07% of Concentrix worth $2,505,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Financial Markets bought a new stake in shares of Concentrix in the 4th quarter valued at approximately $294,000. Raymond James Financial Inc. bought a new position in Concentrix during the fourth quarter worth $4,752,000. American Century Companies Inc. acquired a new position in Concentrix in the fourth quarter worth $539,000. Y Intercept Hong Kong Ltd bought a new stake in Concentrix during the fourth quarter valued at $294,000. Finally, Bleakley Financial Group LLC bought a new stake in Concentrix during the fourth quarter valued at $276,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on CNXC. Barrington Research reduced their price target 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. Bank of America increased their price objective on shares of Concentrix from $59.00 to $65.00 and gave the stock a “neutral” rating in a research note on Monday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Concentrix has a consensus rating of “Buy” and a consensus price target of $67.25.

Insider Buying and Selling at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell purchased 1,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was bought at an average price of $46.00 per share, with a total value of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. This trade represents a 0.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $55.31, for a total transaction of $27,655.00. Following the sale, the executive vice president now owns 39,130 shares in the company, valued at approximately $2,164,280.30. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,944 shares of company stock worth $1,510,158. 3.20% of the stock is owned by company insiders.

Concentrix Trading Up 1.2%

NASDAQ:CNXC opened at $57.32 on Thursday. The firm has a market capitalization of $3.66 billion, a P/E ratio of 15.45, a P/E/G ratio of 0.63 and a beta of 0.56. The business has a 50 day simple moving average of $52.35 and a 200 day simple moving average of $48.71. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC) last posted its 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 company had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business posted $2.57 earnings per share. Equities research analysts predict that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were paid a $0.3328 dividend. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.32%. Concentrix’s payout ratio is currently 33.33%.

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.