Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Jump Financial LLC

Jump Financial LLC increased its position in shares of Concentrix Co. (NASDAQ:CNXC) by 145.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,915 shares of the company’s stock after purchasing an additional 51,471 shares during the period. Jump Financial LLC’s holdings in Concentrix were worth $3,761,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC increased its position in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after purchasing an additional 286 shares during the period. Rhumbline Advisers raised its position in Concentrix by 0.3% in the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock worth $5,565,000 after acquiring an additional 324 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after acquiring an additional 444 shares during the last quarter. Xponance Inc. boosted its position in shares of Concentrix by 8.9% during the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock valued at $240,000 after purchasing an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after purchasing an additional 490 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of the sale, the executive vice president now owns 39,130 shares of the company’s stock, valued at approximately $2,164,280.30. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Concentrix Stock Performance

Shares of Concentrix stock opened at $47.45 on Thursday. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The stock has a market cap of $3.03 billion, a PE ratio of 12.79, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The business has a fifty day simple moving average of $47.56 and a 200-day simple moving average of $46.42.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the company posted $2.57 EPS. On average, sell-side analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.81%. Concentrix’s dividend payout ratio is presently 33.33%.

Analyst Ratings Changes

A number of analysts recently weighed in on CNXC shares. Barrington Research reduced their target price on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Canaccord Genuity Group reduced their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Bank of America boosted their target price on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. One 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, the stock has an average rating of “Buy” and a consensus price target of $69.60.

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.