Two Sigma Securities LLC Takes $448,000 Position in Concentrix Co. (NASDAQ:CNXC)

Two Sigma Securities LLC purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 10,352 shares of the company’s stock, valued at approximately $448,000.

Other hedge funds have also recently modified their holdings of the company. Nordea Investment Management AB increased its position in Concentrix by 43.9% during the 4th quarter. Nordea Investment Management AB now owns 70,654 shares of the company’s stock worth $3,076,000 after purchasing an additional 21,568 shares during the period. Thompson Investment Management Inc. boosted its stake in shares of Concentrix by 1,232.8% in the fourth quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company’s stock valued at $6,076,000 after buying an additional 129,876 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Concentrix during the fourth quarter worth $4,752,000. American Century Companies Inc. purchased a new position in Concentrix in the fourth quarter worth $539,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Concentrix in the fourth quarter valued at $294,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Concentrix

In related news, Director Olivier Duha sold 29,444 shares of the firm’s stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the sale, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher A. Caldwell purchased 1,000 shares of the business’s stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $46.00 per share, with a total value of $46,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 303,362 shares in the company, valued at $13,954,652. The trade was a 0.33 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 30,444 shares of company stock valued at $1,484,078 over the last quarter. Insiders own 3.20% of the company’s stock.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $50.21 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The company’s 50-day moving average price is $47.60 and its 200 day moving average price is $46.27. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.63 and a beta of 0.51.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the business earned $2.57 earnings per share. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be given a $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.65%. Concentrix’s dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CNXC shares. Canaccord Genuity Group lowered their price target on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. 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 report on Thursday, March 27th. Finally, Barrington Research reduced their price target on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $69.60.

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.