AlphaQuest LLC Grows Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

AlphaQuest LLC increased its stake in Concentrix Co. (NASDAQ:CNXC) by 119.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,238 shares of the company’s stock after purchasing an additional 3,389 shares during the quarter. AlphaQuest LLC’s holdings in Concentrix were worth $270,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC grew its holdings in shares of Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Concentrix by 159.6% during 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 during the period. Parkside Financial Bank & Trust increased its position in shares of Concentrix by 58.7% during 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 during the last quarter. KBC Group NV lifted its stake in shares of Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Concentrix in the third quarter worth approximately $146,000. Institutional investors own 90.34% of the company’s stock.

Concentrix Trading Up 3.9 %

Shares of NASDAQ:CNXC opened at $45.02 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00. The company has a market cap of $2.90 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The stock has a 50 day moving average of $47.66 and a 200 day moving average of $49.35.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. The firm had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.36 earnings per share. As a group, equities research analysts expect that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were issued a $0.3328 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 annualized dividend and a dividend yield of 2.96%. Concentrix’s dividend payout ratio (DPR) is 35.85%.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group reduced their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $75.00.

Insiders Place Their Bets

In related news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the sale, the executive vice president now owns 41,111 shares of the company’s stock, valued at $2,285,771.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate 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.