Sivia Capital Partners LLC Purchases New Position in Concentrix Co. (NASDAQ:CNXC)

Sivia Capital Partners LLC acquired a new stake in Concentrix Co. (NASDAQ:CNXC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,676 shares of the company’s stock, valued at approximately $260,000.

Several other hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC grew its position in Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after purchasing an additional 490 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after purchasing an additional 444 shares during the last quarter. KBC Group NV increased its stake in Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after purchasing an additional 815 shares during the period. Finally, Quarry LP raised its holdings in shares of Concentrix by 843.9% in the fourth quarter. Quarry LP now owns 2,539 shares of the company’s stock valued at $110,000 after buying an additional 2,270 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Barrington Research decreased their target price on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Bank of America increased their price objective on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $65.75.

Insider Buying and Selling

In related news, CEO Christopher A. Caldwell bought 1,000 shares of the stock in a transaction on Monday, April 21st. The shares were bought at an average cost of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the transaction, the chief executive officer now owns 303,362 shares of the company’s stock, valued at $13,954,652. This represents a 0.33% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the 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 completion of the transaction, the executive vice president now directly owns 39,130 shares of the company’s stock, valued at approximately $2,164,280.30. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,944 shares of company stock valued at $1,510,158 over the last quarter. Company insiders own 3.20% of the company’s stock.

Concentrix Stock Up 0.5%

Shares of Concentrix stock opened at $56.61 on Monday. The company has a market cap of $3.62 billion, a P/E ratio of 15.26, a PEG ratio of 0.63 and a beta of 0.56. The firm has a fifty day moving average of $52.01 and a two-hundred day moving average of $48.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The firm’s revenue was down 1.3% compared to the same quarter last year. On average, analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors 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 dividend on an annualized basis and a dividend yield of 2.35%. Concentrix’s dividend payout ratio (DPR) is presently 33.33%.

Concentrix Profile

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.