Impact Partnership Wealth LLC Makes New Investment in Concentrix Co. (NASDAQ:CNXC)

Impact Partnership Wealth LLC bought a new stake in Concentrix Co. (NASDAQ:CNXC) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 7,474 shares of the company’s stock, valued at approximately $323,000.

Several other institutional investors and hedge funds have also modified their holdings of CNXC. GAMMA Investing LLC raised its position in Concentrix by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after purchasing an additional 287 shares during the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Concentrix in the second quarter valued at $68,000. Quarry LP raised its holdings in shares of Concentrix by 769.9% in the second quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after buying an additional 1,101 shares during the last quarter. Quest Partners LLC acquired a new position in Concentrix during the 3rd quarter worth about $146,000. Finally, Blue Trust Inc. lifted its position in Concentrix by 62.4% during the 3rd quarter. Blue Trust Inc. now owns 3,132 shares of the company’s stock worth $161,000 after buying an additional 1,204 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on CNXC. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group reduced their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird began coverage on Concentrix in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective on the stock. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $75.00.

Insider Activity

In other news, Director Kathryn Hayley bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average price of $50.22 per share, with a total value of $25,110.00. Following the transaction, the director now owns 3,034 shares in the company, valued at $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold 1,500 shares of company stock worth $66,690 over the last quarter. 3.10% of the stock is currently owned by company insiders.

Concentrix Trading Up 0.2 %

Shares of NASDAQ CNXC opened at $52.54 on Friday. The company’s 50 day simple moving average is $44.66 and its 200 day simple moving average is $54.33. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.57. The firm has a market capitalization of $3.41 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.70 and a beta of 0.63. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $95.04.

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 the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same quarter last year, the firm earned $3.36 EPS. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts predict that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Friday, January 31st will be given a $0.3328 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.33 annualized dividend and a dividend yield of 2.53%. Concentrix’s dividend payout ratio is presently 35.85%.

Concentrix Company 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.