2,849 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by Quest Partners LLC

Quest Partners LLC purchased a new stake in Concentrix Co. (NASDAQ:CNXC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,849 shares of the company’s stock, valued at approximately $146,000.

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

Analyst Ratings Changes

Several research analysts recently commented on CNXC shares. Bank of America reduced their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Robert W. Baird started coverage on shares of Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price for the company. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Barrington Research decreased their price objective on shares of 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 lowered their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $79.00.

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 1,544 shares of the stock in a transaction on Monday, September 30th. The stock was sold at an average price of $51.38, for a total value of $79,330.72. Following the completion of the transaction, the executive vice president now directly owns 27,783 shares in the company, valued at approximately $1,427,490.54. This represents a 5.26 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher A. Caldwell sold 9,823 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at $12,745,020.70. The trade was a 3.90 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,867 shares of company stock worth $619,093. Corporate insiders own 3.10% of the company’s stock.

Concentrix Stock Performance

NASDAQ CNXC opened at $44.92 on Friday. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $106.10. The stock has a market cap of $2.91 billion, a PE ratio of 14.58, a P/E/G ratio of 0.61 and a beta of 0.61. The firm has a 50-day moving average of $47.23 and a 200-day moving average of $59.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data 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). The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The company’s revenue was up 46.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.54 EPS. On average, sell-side analysts anticipate that Concentrix Co. will post 10.18 EPS for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were given a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Friday, October 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is presently 43.18%.

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.