New Age Alpha Advisors LLC Makes New $323,000 Investment in Concentrix Co. (NASDAQ:CNXC)

New Age Alpha Advisors LLC acquired a new stake in Concentrix Co. (NASDAQ:CNXC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 7,465 shares of the company’s stock, valued at approximately $323,000.

Several other hedge funds have also recently bought and sold shares of the company. Cerity Partners LLC increased its stake in Concentrix by 92.6% during the third quarter. Cerity Partners LLC now owns 11,778 shares of the company’s stock worth $604,000 after purchasing an additional 5,663 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Concentrix by 22.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,054 shares of the company’s stock worth $515,000 after buying an additional 1,821 shares during the period. Verition Fund Management LLC lifted its holdings in Concentrix by 221.9% during the 3rd quarter. Verition Fund Management LLC now owns 42,054 shares of the company’s stock worth $2,155,000 after buying an additional 28,989 shares in the last quarter. Janus Henderson Group PLC boosted its position in Concentrix by 2.5% in the 3rd quarter. Janus Henderson Group PLC now owns 104,499 shares of the company’s stock valued at $5,355,000 after buying an additional 2,564 shares during the period. Finally, Invenomic Capital Management LP increased its position in shares of Concentrix by 354.3% during the third quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after acquiring an additional 368,295 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

CNXC has been the subject of a number of recent research reports. Canaccord Genuity Group decreased their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Barrington Research decreased their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Finally, Bank of America upped their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $69.60.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the transaction, the executive vice president now owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $54.03 on Wednesday. The stock’s 50-day simple moving average is $48.27 and its 200-day simple moving average is $47.29. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a market capitalization of $3.48 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm earned $2.57 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Friday, April 25th. Concentrix’s payout ratio is 33.33%.

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.