Concentrix Corporation $CNXC Shares Purchased by Intech Investment Management LLC

Intech Investment Management LLC raised its stake in shares of Concentrix Corporation (NASDAQ:CNXC) by 353.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,521 shares of the company’s stock after buying an additional 31,586 shares during the quarter. Intech Investment Management LLC’s holdings in Concentrix were worth $1,685,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Huntington National Bank grew its holdings in Concentrix by 6,011.1% during the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock valued at $25,000 after buying an additional 541 shares during the last quarter. Larson Financial Group LLC grew its holdings in Concentrix by 224.9% during the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock valued at $32,000 after buying an additional 479 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after buying an additional 522 shares during the last quarter. Rothschild Investment LLC grew its holdings in Concentrix by 14,980.0% during the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock valued at $35,000 after buying an additional 749 shares during the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Concentrix by 1,032.5% during the 4th quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock valued at $36,000 after buying an additional 795 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Andre S. Valentine bought 2,500 shares of Concentrix stock in a transaction that occurred on Thursday, April 9th. The shares were purchased at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the acquisition, the chief financial officer owned 89,066 shares of the company’s stock, valued at $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of Concentrix stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the transaction, the insider owned 2,773,667 shares in the company, valued at $61,714,090.75. The trade was a 68.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CNXC has been the topic of a number of analyst reports. Canaccord Genuity Group lowered their target price on Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Barrington Research decreased their price objective on Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Wall Street Zen cut Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Robert W. Baird decreased their price objective on Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a report on Wednesday, March 25th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $48.50.

Concentrix Price Performance

CNXC stock opened at $28.57 on Friday. Concentrix Corporation has a 52-week low of $22.05 and a 52-week high of $62.14. The stock’s fifty day simple moving average is $26.47 and its 200-day simple moving average is $33.29. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of -1.33, a price-to-earnings-growth ratio of 0.35 and a beta of 0.43.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the business earned $2.79 EPS. Concentrix’s revenue for the quarter was up 5.4% compared to the same quarter last year. Equities research analysts expect that Concentrix Corporation will post 10.42 EPS for the current year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were issued a $0.36 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.44 dividend on an annualized basis and a yield of 5.0%. Concentrix’s dividend payout ratio (DPR) is presently -6.68%.

About Concentrix

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.