Pacer Advisors Inc. Buys 7,058 Shares of Concentrix Co. (NASDAQ:CNXC)

Posted by Defense World Staff on May 2nd, 2023

Pacer Advisors Inc. raised its position in shares of Concentrix Co. (NASDAQ:CNXC – Get Rating) by 663.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,122 shares of the company’s stock after purchasing an additional 7,058 shares during the period. Pacer Advisors Inc.’s holdings in Concentrix were worth $1,082,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Ellevest Inc. raised its stake in shares of Concentrix by 6,180.0% in the third quarter. Ellevest Inc. now owns 314 shares of the company’s stock valued at $35,000 after buying an additional 309 shares during the period. CWM LLC raised its stake in shares of Concentrix by 69.5% in the third quarter. CWM LLC now owns 317 shares of the company’s stock valued at $35,000 after buying an additional 130 shares during the period. Wipfli Financial Advisors LLC bought a new stake in shares of Concentrix during the 3rd quarter valued at $37,000. Ronald Blue Trust Inc. raised 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 purchasing an additional 112 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Concentrix by 73.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 564 shares of the company’s stock valued at $62,000 after purchasing an additional 239 shares during the period. 92.31% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Concentrix

In other news, Director Dennis Polk sold 10,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 15,507 shares in the company, valued at approximately $2,186,021.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.88% of the company’s stock.

Concentrix Price Performance

Concentrix stock opened at $94.93 on Tuesday. Concentrix Co. has a 52 week low of $94.54 and a 52 week high of $163.43. The business has a 50-day simple moving average of $119.59 and a 200 day simple moving average of $126.19. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 12.06, a PEG ratio of 0.85 and a beta of 0.51.

Concentrix (NASDAQ:CNXC – Get Rating) last posted its earnings results 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 return on equity of 20.63% and a net margin of 6.42%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. On average, research analysts forecast that Concentrix Co. will post 10.98 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 9th. Stockholders of record on Friday, April 28th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, April 27th. Concentrix’s payout ratio is currently 13.98%.

Analysts Set New Price Targets

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

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.