Profund Advisors LLC Makes New $208,000 Investment in Concentrix Co. (NASDAQ:CNXC)

Posted by on Apr 27th, 2023

Profund Advisors LLC bought a new position in Concentrix Co. (NASDAQ:CNXC – Get Rating) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,560 shares of the company’s stock, valued at approximately $208,000.

A number of other large investors have also made changes to their positions in CNXC. First PREMIER Bank grew its stake in shares of Concentrix by 57.5% during the 3rd quarter. First PREMIER Bank now owns 315 shares of the company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. CWM LLC grew its stake in shares of Concentrix by 69.5% during the 3rd quarter. CWM LLC now owns 317 shares of the company’s stock valued at $35,000 after purchasing an additional 130 shares during the period. Ellevest Inc. grew its stake in shares of Concentrix by 6,180.0% during the 3rd quarter. Ellevest Inc. now owns 314 shares of the company’s stock valued at $35,000 after acquiring an additional 309 shares during the period. Wipfli Financial Advisors LLC bought a new position in shares of Concentrix during the 3rd quarter valued at approximately $37,000. Finally, Ronald Blue Trust Inc. grew its stake in shares of Concentrix by 57.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 307 shares of the company’s stock valued at $42,000 after acquiring an additional 112 shares during the period. 92.31% of the stock is currently owned by institutional investors.

Concentrix Stock Down 2.2 %

Concentrix stock opened at $96.23 on Thursday. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 0.87 and a beta of 0.51. Concentrix Co. has a 52 week low of $96.01 and a 52 week high of $163.43. The business’s 50-day moving average price is $122.34 and its 200 day moving average price is $126.64. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79.

Concentrix (NASDAQ:CNXC – Get Rating) last issued its quarterly earnings data on Wednesday, March 29th. The company reported $2.32 EPS for the quarter, missing the consensus estimate of $2.40 by ($0.08). Concentrix had a net margin of 6.42% and a return on equity of 20.63%. The business had revenue of $1.64 billion during the quarter, compared to analyst estimates of $1.63 billion. As a group, sell-side analysts anticipate that Concentrix Co. will post 10.98 earnings per share for the current year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 9th. Investors of record on Friday, April 28th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, April 27th. This represents a $1.10 dividend on an annualized basis and a yield of 1.14%. Concentrix’s payout ratio is 13.98%.

Analyst Ratings Changes

CNXC has been the topic of a number of research analyst reports. Bank of America boosted their price target on Concentrix from $157.00 to $165.00 in a report on Friday, March 31st. TheStreet lowered Concentrix from a “b-” rating to a “c+” rating in a report on Thursday, March 23rd. Barrington Research reaffirmed an “outperform” rating and issued a $165.00 price objective on shares of Concentrix in a research report on Monday, March 27th. Finally, Canaccord Genuity Group assumed coverage on Concentrix in a research report on Wednesday, April 12th. They set a “buy” rating and a $150.00 price target on the stock.

Insider Buying and Selling

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

Concentrix Profile

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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.

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Institutional Ownership by Quarter for Concentrix (NASDAQ:CNXC)

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