Cubist Systematic Strategies LLC Buys 24,420 Shares of Concentrix Co. (NASDAQ:CNXC)

Posted by Defense World Staff on Mar 7th, 2023

Cubist Systematic Strategies LLC grew its stake in shares of Concentrix Co. (NASDAQ:CNXC – Get Rating) by 413.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,332 shares of the company’s stock after buying an additional 24,420 shares during the period. Cubist Systematic Strategies LLC owned 0.06% of Concentrix worth $3,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ronald Blue Trust Inc. bought a new stake in shares of Concentrix during the second quarter valued at about $32,000. First PREMIER Bank grew its holdings in shares of Concentrix by 57.5% during the third quarter. First PREMIER Bank now owns 315 shares of the company’s stock worth $35,000 after purchasing an additional 115 shares in the last quarter. CWM LLC grew its holdings in shares of Concentrix by 69.5% during the third quarter. CWM LLC now owns 317 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares in the last quarter. Ellevest Inc. grew its holdings in shares of Concentrix by 6,180.0% during the third quarter. Ellevest Inc. now owns 314 shares of the company’s stock worth $35,000 after purchasing an additional 309 shares in the last quarter. Finally, Wipfli Financial Advisors LLC purchased a new position in shares of Concentrix during the third quarter worth about $37,000. 92.31% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, TheStreet raised Concentrix from a “c” rating to a “b-” rating in a report on Thursday, January 12th.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 328 shares of the company’s stock in a transaction that occurred on Monday, January 30th. The stock was sold at an average price of $137.91, for a total value of $45,234.48. Following the completion of the sale, the executive vice president now owns 28,908 shares of the company’s stock, valued at $3,986,702.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Dennis Polk sold 10,000 shares of the stock in a transaction that occurred on Wednesday, February 1st. The stock was sold at an average price of $140.97, for a total transaction of $1,409,700.00. Following the completion of the sale, the director now owns 15,507 shares of the company’s stock, valued at $2,186,021.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 328 shares of the stock in a transaction that occurred on Monday, January 30th. The shares were sold at an average price of $137.91, for a total value of $45,234.48. Following the sale, the executive vice president now directly owns 28,908 shares of the company’s stock, valued at approximately $3,986,702.28. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

Concentrix Stock Down 0.2 %

Shares of NASDAQ CNXC opened at $137.82 on Tuesday. Concentrix Co. has a 12 month low of $108.57 and a 12 month high of $204.43. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $7.18 billion, a price-to-earnings ratio of 16.64, a PEG ratio of 1.32 and a beta of 0.57. The business has a 50-day moving average of $140.55 and a 200-day moving average of $128.29.

Concentrix (NASDAQ:CNXC – Get Rating) last issued its earnings results on Thursday, January 19th. The company reported $2.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.11 by ($0.23). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.67 billion. Concentrix had a return on equity of 21.40% and a net margin of 6.88%. Sell-side analysts expect that Concentrix Co. will post 11.26 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 10th. Shareholders of record on Monday, January 30th were paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, January 27th. Concentrix’s dividend payout ratio is currently 13.29%.

About Concentrix

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Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.