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

Versor Investments LP increased its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 85.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,700 shares of the company’s stock after acquiring an additional 4,943 shares during the period. Versor Investments LP’s holdings in Concentrix were worth $463,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Venturi Wealth Management LLC increased its holdings in shares of Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after buying an additional 490 shares in the last quarter. KBC Group NV boosted its stake in 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 acquiring an additional 815 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Concentrix during the third quarter worth $146,000. Parametrica Management Ltd bought a new stake in shares of Concentrix in the 3rd quarter valued at about $214,000. Finally, Verity Asset Management Inc. acquired a new stake in Concentrix in the third quarter worth $247,000. 90.34% of the stock is currently owned by institutional investors.

Concentrix Stock Performance

Shares of CNXC stock opened at $45.16 on Monday. The firm has a market cap of $2.91 billion, a PE ratio of 12.17, a P/E/G ratio of 0.63 and a beta of 0.67. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The company’s fifty day simple moving average is $47.47 and its 200-day simple moving average is $50.93. 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, beating analysts’ consensus estimates of $3.01 by $0.25. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period last year, the company earned $3.36 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders 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 dividend payout ratio is 35.85%.

Analyst Upgrades and Downgrades

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

Insider Activity at Concentrix

In other news, Director Kathryn Hayley acquired 500 shares of Concentrix stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average price of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the acquisition, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. The trade was a 19.73 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

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.