Cerity Partners LLC Has $604,000 Position in Concentrix Co. (NASDAQ:CNXC)

Cerity Partners LLC boosted its stake in Concentrix Co. (NASDAQ:CNXC) by 92.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,778 shares of the company’s stock after purchasing an additional 5,663 shares during the quarter. Cerity Partners LLC’s holdings in Concentrix were worth $604,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hexagon Capital Partners LLC grew its stake in Concentrix by 2,992.3% in the second quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock valued at $25,000 after acquiring an additional 389 shares during the period. GAMMA Investing LLC grew its position in Concentrix by 1,005.0% in the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after purchasing an additional 402 shares during the period. First Horizon Advisors Inc. increased its stake in Concentrix by 54.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock valued at $51,000 after purchasing an additional 285 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new position in Concentrix during the second quarter worth $68,000. Finally, Quarry LP lifted its stake in shares of Concentrix by 769.9% in the second quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after buying an additional 1,101 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNXC has been the topic of several recent research reports. Canaccord Genuity Group dropped their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Robert W. Baird assumed coverage on Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price on the stock. Bank of America decreased their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Barrington Research dropped their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, Baird R W raised shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. One research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $79.00.

Concentrix Price Performance

CNXC opened at $43.28 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The stock’s 50 day simple moving average is $45.07 and its 200 day simple moving average is $58.29. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 14.05, a PEG ratio of 0.57 and a beta of 0.63. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the firm earned $2.54 EPS. The firm’s revenue for the quarter was up 46.2% on a year-over-year basis. As a group, analysts predict that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were paid a dividend of $0.333 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.33 annualized dividend and a yield of 3.08%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is presently 43.18%.

Insiders Place Their Bets

In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of Concentrix stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the sale, the chief executive officer now owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. The trade was a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 1,544 shares of the company’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the sale, the executive vice president now owns 27,783 shares of the company’s stock, valued at approximately $1,427,490.54. This trade represents a 5.26 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,367 shares of company stock worth $641,668. 3.10% of the stock is currently owned by company insiders.

Concentrix Company 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.