Versor Investments LP Buys 4,943 Shares of Concentrix Co. (NASDAQ:CNXC)

Versor Investments LP boosted its position in Concentrix Co. (NASDAQ:CNXC) by 85.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 10,700 shares of the company’s stock after buying an additional 4,943 shares during the quarter. Versor Investments LP’s holdings in Concentrix were worth $463,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Rhumbline Advisers raised its position in Concentrix by 0.3% in the fourth 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. Venturi Wealth Management LLC boosted its position in Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after acquiring an additional 490 shares during the last quarter. KBC Group NV grew its stake in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares during the period. Clark Estates Inc. NY grew its position in shares of Concentrix by 2.0% during the 3rd quarter. Clark Estates Inc. NY now owns 45,150 shares of the company’s stock worth $2,314,000 after buying an additional 900 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Concentrix by 16.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 10,543 shares of the company’s stock valued at $540,000 after purchasing an additional 1,475 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Price Performance

CNXC opened at $45.16 on Monday. 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 firm’s fifty day moving average price is $47.47 and its two-hundred day moving average price is $50.93. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 12.17, a P/E/G ratio of 0.63 and a beta of 0.67.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same period last year, the company posted $3.36 earnings per share. As a group, analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were paid a $0.3328 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 annualized dividend and a yield of 2.95%. Concentrix’s payout ratio is 35.85%.

Insider Activity

In other Concentrix news, Director Kathryn Hayley acquired 500 shares of Concentrix stock in a transaction that occurred on Wednesday, January 22nd. The stock was acquired at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the purchase, the director now owns 3,034 shares of the company’s stock, valued at approximately $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group decreased their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $75.00.

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.