Paradigm Capital Management Inc. NY Has $39.46 Million Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Paradigm Capital Management Inc. NY increased its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 126.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 623,542 shares of the company’s stock after buying an additional 348,100 shares during the period. Concentrix accounts for about 1.8% of Paradigm Capital Management Inc. NY’s portfolio, making the stock its 17th largest holding. Paradigm Capital Management Inc. NY owned 0.95% of Concentrix worth $39,458,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Concentrix in the fourth quarter valued at approximately $31,294,000. Coldstream Capital Management Inc. acquired a new position in Concentrix in the 4th quarter valued at $206,000. Corient Private Wealth LLC increased its position in Concentrix by 48.7% during the 4th quarter. Corient Private Wealth LLC now owns 9,288 shares of the company’s stock worth $912,000 after buying an additional 3,043 shares during the period. Assetmark Inc. boosted its position in shares of Concentrix by 42.6% in the fourth quarter. Assetmark Inc. now owns 1,514 shares of the company’s stock valued at $149,000 after acquiring an additional 452 shares during the period. Finally, Orion Portfolio Solutions LLC grew its stake in shares of Concentrix by 143.3% in the fourth quarter. Orion Portfolio Solutions LLC now owns 6,720 shares of the company’s stock valued at $652,000 after acquiring an additional 3,958 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Concentrix Stock Performance

Shares of Concentrix stock opened at $63.55 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21. The company has a market cap of $4.15 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 0.70 and a beta of 0.61. The company has a 50 day moving average of $68.36 and a 200-day moving average of $63.79. Concentrix Co. has a 1-year low of $53.89 and a 1-year high of $106.10.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.06. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $2.50 EPS. The company’s revenue was up 47.4% compared to the same quarter last year. As a group, equities research analysts forecast that Concentrix Co. will post 10.8 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 26th were issued a $0.303 dividend. The ex-dividend date was Friday, July 26th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.91%. Concentrix’s dividend payout ratio (DPR) is currently 28.01%.

Analyst Upgrades and Downgrades

CNXC has been the subject of a number of recent research reports. Bank of America raised shares of Concentrix from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $65.00 to $85.00 in a report on Wednesday, August 28th. Barrington Research reiterated an “outperform” rating and issued a $84.00 price target on shares of Concentrix in a research note on Friday. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Concentrix in a report on Thursday, June 27th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

Insider Activity

In related news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $67.23, for a total value of $26,892.00. Following the completion of the transaction, the executive vice president now owns 29,727 shares of the company’s stock, valued at approximately $1,998,546.21. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 1,200 shares of company stock worth $82,028. Corporate insiders own 3.00% of the company’s stock.

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.