4,584 Shares in Concentrix Corporation $CNXC Purchased by Libra Wealth LLC

Libra Wealth LLC purchased a new position in Concentrix Corporation (NASDAQ:CNXC) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,584 shares of the company’s stock, valued at approximately $242,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Concentrix by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,242,763 shares of the company’s stock worth $291,707,000 after purchasing an additional 106,217 shares in the last quarter. AQR Capital Management LLC grew its stake in Concentrix by 850.1% in the first quarter. AQR Capital Management LLC now owns 3,429,913 shares of the company’s stock worth $190,840,000 after purchasing an additional 3,068,916 shares in the last quarter. Copeland Capital Management LLC grew its stake in Concentrix by 3.0% in the first quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company’s stock worth $76,418,000 after purchasing an additional 40,226 shares in the last quarter. Boston Partners grew its stake in Concentrix by 17.1% in the first quarter. Boston Partners now owns 624,274 shares of the company’s stock worth $33,991,000 after purchasing an additional 91,130 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Concentrix by 6.2% in the first quarter. Northern Trust Corp now owns 522,746 shares of the company’s stock worth $29,086,000 after purchasing an additional 30,527 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on CNXC shares. Weiss Ratings upgraded Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Bank of America cut their target price on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, June 27th. Barrington Research reissued an “outperform” rating and issued a $62.00 target price on shares of Concentrix in a report on Wednesday, September 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Concentrix in a report on Tuesday, September 23rd. Finally, Robert W. Baird cut their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.25.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $44.78 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. The firm’s 50-day moving average price is $50.50 and its two-hundred day moving average price is $52.83. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $66.00. The stock has a market capitalization of $2.79 billion, a P/E ratio of 9.47, a P/E/G ratio of 0.65 and a beta of 0.50.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.2%. This is a boost from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, October 24th. Concentrix’s dividend payout ratio is presently 28.12%.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the sale, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.20% of the company’s stock.

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.