24,247 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC) during the third quarter, Holdings Channel reports. The firm purchased 24,247 shares of the company’s stock, valued at approximately $1,243,000.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Concentrix in the 2nd quarter valued at $1,445,000. Raymond James & Associates boosted its holdings in shares of Concentrix by 73.3% in the 3rd quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock valued at $2,835,000 after purchasing an additional 23,387 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Concentrix by 24.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock valued at $3,319,000 after purchasing an additional 12,870 shares in the last quarter. Natixis acquired a new stake in shares of Concentrix in the 1st quarter valued at $542,000. Finally, Sanders Morris Harris LLC acquired a new stake in shares of Concentrix in the 3rd quarter valued at $2,562,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell sold 9,823 shares of Concentrix stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. This trade represents a 3.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction dated 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 of the company’s stock, valued at approximately $1,427,490.54. This trade represents a 5.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,267 shares of company stock valued at $648,945. Corporate insiders own 3.10% of the company’s stock.

Concentrix Stock Down 2.1 %

Shares of NASDAQ:CNXC opened at $39.79 on Friday. The firm has a market cap of $2.58 billion, a P/E ratio of 12.92, a P/E/G ratio of 0.56 and a beta of 0.61. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. Concentrix Co. has a 12-month low of $39.39 and a 12-month high of $106.10. The business has a fifty day simple moving average of $52.70 and a 200 day simple moving average of $60.45.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06). The company 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 firm’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 earnings per share. Analysts predict that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were given a $0.333 dividend. The ex-dividend date of this dividend was Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 annualized dividend and a dividend yield of 3.35%. Concentrix’s dividend payout ratio (DPR) is 43.18%.

Wall Street Analyst Weigh In

CNXC has been the topic of a number of research analyst reports. Bank of America reduced their target price on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Canaccord Genuity Group cut their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Robert W. Baird began coverage on Concentrix in a report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective on the stock. Barrington Research cut their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Finally, Baird R W raised Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Concentrix has a consensus rating of “Buy” and an average target price of $79.00.

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.