Stifel Financial Corp Acquires 2,997 Shares of Concentrix Co. (NASDAQ:CNXC)

Stifel Financial Corp raised its position in shares of Concentrix Co. (NASDAQ:CNXC) by 9.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,131 shares of the company’s stock after buying an additional 2,997 shares during the period. Stifel Financial Corp owned about 0.06% of Concentrix worth $1,852,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNXC. GSA Capital Partners LLP purchased a new stake in shares of Concentrix during the third quarter valued at approximately $1,243,000. Raymond James & Associates raised its position in shares of Concentrix by 73.3% during the 3rd quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock valued at $2,835,000 after buying an additional 23,387 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Concentrix by 24.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock worth $3,319,000 after acquiring an additional 12,870 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Concentrix during the third quarter worth $1,255,000. Finally, Sanders Morris Harris LLC purchased a new position in shares of Concentrix during the third quarter valued at $2,562,000. 90.34% of the stock is currently owned by institutional investors.

Concentrix Stock Up 0.2 %

Shares of NASDAQ CNXC opened at $40.48 on Friday. The business has a 50-day moving average of $43.64 and a two-hundred day moving average of $56.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 0.56 and a beta of 0.63.

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

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were issued a $0.333 dividend. This represents a $1.33 annualized dividend and a dividend yield of 3.29%. The ex-dividend date of this dividend was Friday, October 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio is 43.18%.

Insider Buying and Selling

In other news, 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 completion of the transaction, the executive vice president now directly owns 27,783 shares in the company, valued at approximately $1,427,490.54. This represents a 5.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Christopher A. Caldwell sold 9,823 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at $12,745,020.70. This represents a 3.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,367 shares of company stock worth $641,668. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Canaccord Genuity Group reduced their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Baird R W raised shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America reduced their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Barrington Research reduced their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Finally, Robert W. Baird initiated coverage on shares of Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 target price for the company. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $79.00.

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.