Chicago Partners Investment Group LLC Invests $302,000 in Concentrix Corporation $CNXC

Chicago Partners Investment Group LLC bought a new position in shares of Concentrix Corporation (NASDAQ:CNXC) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 5,719 shares of the company’s stock, valued at approximately $302,000.

Several other institutional investors also recently modified their holdings of CNXC. GAMMA Investing LLC grew its position in shares of Concentrix by 761.3% during the 1st quarter. GAMMA Investing LLC now owns 2,446 shares of the company’s stock worth $136,000 after buying an additional 2,162 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in shares of Concentrix by 687.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 50,270 shares of the company’s stock valued at $2,797,000 after purchasing an additional 43,888 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Concentrix in the 1st quarter valued at approximately $495,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Concentrix in the 1st quarter valued at approximately $243,000. Finally, Copeland Capital Management LLC grew its position in shares of Concentrix by 3.0% in the 1st quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company’s stock valued at $76,418,000 after purchasing an additional 40,226 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell purchased 1,000 shares of the business’s stock in a transaction on Friday, October 10th. The stock was acquired at an average price of $45.35 per share, with a total value of $45,350.00. Following the acquisition, the chief executive officer directly owned 305,345 shares of the company’s stock, valued at $13,847,395.75. This trade represents a 0.33% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the sale, the executive vice president directly owned 37,130 shares of the company’s stock, valued at $2,150,198.30. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Bank of America decreased their price objective on Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, June 27th. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a research report on Tuesday, September 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Concentrix in a research report on Friday. Robert W. Baird reduced their price target on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $62.00 price target on shares of Concentrix in a research report on Wednesday, September 24th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Concentrix currently has an average rating of “Moderate Buy” and an average target price of $66.25.

Concentrix Trading Down 1.4%

NASDAQ CNXC opened at $46.93 on Friday. The company has a market cap of $2.92 billion, a PE ratio of 9.92, a PEG ratio of 0.69 and a beta of 0.50. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.10. Concentrix Corporation has a 12 month low of $36.28 and a 12 month high of $66.00. The stock has a 50 day moving average of $50.21 and a 200-day moving average of $52.33.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.1%. The ex-dividend date of this dividend is Friday, October 24th. This is a boost from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s payout ratio is currently 28.12%.

Concentrix Company 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.