Paradigm Capital Management Inc. NY Purchases 19,418 Shares of Concentrix Co. (NASDAQ:CNXC)

Paradigm Capital Management Inc. NY lifted its position in shares of Concentrix Co. (NASDAQ:CNXC) by 2.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 750,142 shares of the company’s stock after buying an additional 19,418 shares during the period. Concentrix comprises approximately 1.5% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 20th biggest holding. Paradigm Capital Management Inc. NY’s holdings in Concentrix were worth $32,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its position in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after acquiring an additional 286 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after purchasing an additional 324 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after purchasing an additional 444 shares in the last quarter. Xponance Inc. increased its position in Concentrix by 8.9% during the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after purchasing an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after purchasing an additional 490 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have weighed in on CNXC shares. Bank of America boosted 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. Barrington Research reduced their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Concentrix has a consensus rating of “Buy” and an average target price of $65.75.

Concentrix Stock Down 0.3%

NASDAQ:CNXC opened at $56.05 on Tuesday. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $3.58 billion, a PE ratio of 15.11, a P/E/G ratio of 0.63 and a beta of 0.52. The firm’s 50 day simple moving average is $50.01 and its 200 day simple moving average is $46.99.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.21. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.57 earnings per share. On average, research analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were given a dividend of $0.3328 per share. The ex-dividend date was Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.37%. Concentrix’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity

In related news, Director Olivier Duha sold 29,444 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now directly owns 1,155,862 shares in the company, valued at $56,082,424.24. This trade represents a 2.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the sale, the executive vice president now directly owns 39,130 shares of the company’s stock, valued at $2,164,280.30. The trade was a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,444 shares of company stock worth $1,481,628 in the last three months. Company insiders own 3.20% of the company’s stock.

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.