Quantinno Capital Management LP Raises Holdings in Concentrix Co. (NASDAQ:CNXC)

Quantinno Capital Management LP increased its position in Concentrix Co. (NASDAQ:CNXC) by 131.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,181 shares of the company’s stock after buying an additional 40,980 shares during the quarter. Quantinno Capital Management LP owned about 0.11% of Concentrix worth $3,123,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Steward Partners Investment Advisory LLC raised its position in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after buying an additional 286 shares during the period. Rhumbline Advisers increased its holdings in Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after purchasing an additional 324 shares in the last quarter. Parkside Financial Bank & Trust increased 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 purchasing an additional 444 shares in the last quarter. Xponance Inc. increased its holdings in Concentrix by 8.9% in 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 increased its holdings in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after purchasing an additional 490 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNXC has been the subject of several recent research reports. Barrington Research lowered their price target on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Bank of America increased their price target on Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Concentrix currently has an average rating of “Buy” and an average price target of $65.75.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total value of $25,350.00. Following the completion of the transaction, the executive vice president now directly owns 38,630 shares in the company, valued at approximately $1,958,541. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the completion of the transaction, the director now owns 1,155,862 shares of the company’s stock, valued at $56,082,424.24. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,444 shares of company stock worth $1,481,628. Corporate insiders own 3.20% of the company’s stock.

Concentrix Stock Down 0.3%

Shares of Concentrix stock opened at $56.05 on Tuesday. The business has a 50-day moving average of $50.01 and a 200-day moving average of $46.99. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $3.58 billion, a PE ratio of 15.11, a P/E/G ratio of 0.63 and a beta of 0.52. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm earned $2.57 earnings per share. As a group, equities analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were paid a $0.3328 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.37%. Concentrix’s dividend payout ratio (DPR) is 33.33%.

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.