344,240 Shares in Concentrix Corporation $CNXC Bought by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC bought a new position in Concentrix Corporation (NASDAQ:CNXC) in the fourth quarter, HoldingsChannel.com reports. The firm bought 344,240 shares of the company’s stock, valued at approximately $14,313,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thompson Investment Management Inc. boosted its stake in Concentrix by 36.9% in the 4th quarter. Thompson Investment Management Inc. now owns 216,154 shares of the company’s stock worth $8,988,000 after purchasing an additional 58,251 shares during the period. Invenomic Capital Management LP lifted its position in Concentrix by 19.7% during the 3rd quarter. Invenomic Capital Management LP now owns 822,345 shares of the company’s stock worth $37,951,000 after buying an additional 135,429 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Concentrix by 189.5% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 77,128 shares of the company’s stock worth $3,559,000 after buying an additional 50,482 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its position in Concentrix by 100.0% during the 4th quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $3,493,000 after buying an additional 42,000 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Concentrix by 18.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 260,715 shares of the company’s stock worth $12,032,000 after buying an additional 40,685 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Analysts Set New Price Targets

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

Concentrix Stock Down 4.5%

Concentrix stock opened at $25.42 on Thursday. The firm has a market capitalization of $1.55 billion, a PE ratio of -1.18, a P/E/G ratio of 0.33 and a beta of 0.44. The company’s 50-day moving average is $26.42 and its 200-day moving average is $32.79. Concentrix Corporation has a fifty-two week low of $22.05 and a fifty-two week high of $62.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18.

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

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, April 24th. This represents a $1.44 annualized dividend and a dividend yield of 5.7%. Concentrix’s payout ratio is currently -6.68%.

Concentrix Profile

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.