Chicago Partners Investment Group LLC Invests $302,000 in Concentrix Corporation $CNXC

Chicago Partners Investment Group LLC purchased a new position in shares of Concentrix Corporation (NASDAQ:CNXC) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,719 shares of the company’s stock, valued at approximately $302,000.

A number of other institutional investors have also recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Concentrix during the second quarter worth $1,689,000. Capital Management Corp VA acquired a new stake in Concentrix during the second quarter worth $17,230,000. Libra Wealth LLC acquired a new stake in Concentrix during the second quarter worth $242,000. CWM LLC boosted its stake in Concentrix by 19.9% during the second quarter. CWM LLC now owns 79,897 shares of the company’s stock worth $4,223,000 after buying an additional 13,280 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Concentrix by 21.1% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,797 shares of the company’s stock worth $676,000 after buying an additional 2,230 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on CNXC shares. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a report on Saturday. Robert W. Baird cut their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Barrington Research reissued an “outperform” rating and set a $62.00 price objective on shares of Concentrix in a report on Wednesday, September 24th. Bank of America cut their price objective on Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, June 27th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Concentrix in a report on Friday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Concentrix presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.25.

Insider Activity

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the completion of the sale, the executive vice president directly owned 37,130 shares of the company’s stock, valued at approximately $2,150,198.30. The trade was a 1.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the company’s stock in a transaction on Friday, October 10th. The shares were purchased at an average cost of $45.35 per share, with a total value of $45,350.00. Following the completion of the acquisition, the chief executive officer directly owned 305,345 shares in the company, valued at approximately $13,847,395.75. The trade was a 0.33% increase in their position. The disclosure for this purchase can be found here. Insiders own 3.20% of the company’s stock.

Concentrix Stock Performance

Concentrix stock opened at $46.93 on Friday. The stock has a 50-day simple moving average of $50.21 and a 200 day simple moving average of $52.33. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $66.00. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 0.69 and a beta of 0.50.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, October 24th. This represents a $1.44 annualized dividend and a yield of 3.1%. This is an increase from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s dividend payout ratio (DPR) is presently 28.12%.

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.