7,477 Shares in Concentrix Co. (NASDAQ:CNXC) Bought by Aigen Investment Management LP

Aigen Investment Management LP purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,477 shares of the company’s stock, valued at approximately $324,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after buying an additional 286 shares in the last quarter. Rhumbline Advisers grew its position in shares of 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 period. Parkside Financial Bank & Trust grew its position in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after purchasing an additional 444 shares during the period. Venturi Wealth Management LLC grew its position in shares of Concentrix by 159.6% in the fourth 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 period. Finally, KBC Group NV grew its position in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after purchasing an additional 815 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Stock Up 5.5 %

Shares of NASDAQ CNXC opened at $47.10 on Friday. The company’s 50-day simple moving average is $47.54 and its 200-day simple moving average is $50.22. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results 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. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 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 up 9.7% on a year-over-year basis. During the same period last year, the firm posted $3.36 earnings per share. Equities analysts predict that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were paid a $0.3328 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, January 31st. Concentrix’s dividend payout ratio is currently 35.85%.

Wall Street Analyst Weigh In

Separately, Canaccord Genuity Group dropped their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $75.00.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the transaction, the executive vice president now directly owns 41,111 shares of the company’s stock, valued at approximately $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.