29,527 Shares in Concentrix Co. (NASDAQ:CNXC) Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP purchased a new stake in Concentrix Co. (NASDAQ:CNXC) in the 4th quarter, HoldingsChannel reports. The fund purchased 29,527 shares of the company’s stock, valued at approximately $1,278,000.

Several other institutional investors have also recently bought and sold shares of CNXC. Hsbc Holdings PLC increased its position in shares of Concentrix by 51.1% during the fourth quarter. Hsbc Holdings PLC now owns 49,633 shares of the company’s stock worth $2,148,000 after acquiring an additional 16,786 shares in the last quarter. Stifel Financial Corp increased its holdings in Concentrix by 119.7% during the 4th quarter. Stifel Financial Corp now owns 79,394 shares of the company’s stock worth $3,435,000 after purchasing an additional 43,263 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Concentrix by 21.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company’s stock worth $140,000 after purchasing an additional 580 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Concentrix by 8.2% in the fourth quarter. MetLife Investment Management LLC now owns 26,313 shares of the company’s stock worth $1,139,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Natixis bought a new position in shares of Concentrix in the fourth quarter valued at approximately $601,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Trading Up 2.0 %

NASDAQ CNXC opened at $47.82 on Wednesday. The business’s fifty day moving average is $47.51 and its 200-day moving average is $46.25. 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 stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 0.63 and a beta of 0.51. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS 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 for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm posted $2.57 earnings per share. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts predict that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

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 yield of 2.78%. The ex-dividend date is Friday, April 25th. Concentrix’s dividend payout ratio (DPR) is 33.33%.

Insiders Place Their Bets

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the transaction, the executive vice president now owns 39,130 shares in the company, valued at $2,164,280.30. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Olivier Duha sold 29,444 shares of the company’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 $56,082,424.24. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 30,444 shares of company stock valued at $1,484,078 over the last ninety days. 3.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

About Concentrix

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.