Hussman Strategic Advisors Inc. Has $3.49 Million Stake in Concentrix Corporation $CNXC

Hussman Strategic Advisors Inc. boosted its position in shares of Concentrix Corporation (NASDAQ:CNXC) by 100.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,000 shares of the company’s stock after acquiring an additional 42,000 shares during the period. Concentrix accounts for 0.8% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 11th biggest holding. Hussman Strategic Advisors Inc.’s holdings in Concentrix were worth $3,493,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNXC. Royal Bank of Canada lifted its position in Concentrix by 9.5% during the 1st quarter. Royal Bank of Canada now owns 47,501 shares of the company’s stock worth $2,643,000 after acquiring an additional 4,133 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Concentrix by 75.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company’s stock worth $23,552,000 after acquiring an additional 181,546 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Concentrix by 17.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company’s stock worth $8,152,000 after acquiring an additional 21,746 shares during the last quarter. Focus Partners Wealth acquired a new position in Concentrix during the 1st quarter worth $781,000. Finally, Geneos Wealth Management Inc. lifted its position in Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after acquiring an additional 522 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Performance

NASDAQ CNXC opened at $24.53 on Friday. The stock has a market cap of $1.50 billion, a P/E ratio of -1.14, a PEG ratio of 0.31 and a beta of 0.37. The company’s 50-day simple moving average is $29.47 and its 200 day simple moving average is $35.89. Concentrix Corporation has a twelve month low of $22.85 and a twelve month high of $62.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.04). The business had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.79 EPS. As a group, research analysts forecast that Concentrix Corporation will post 10.42 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.44 dividend on an annualized basis and a yield of 5.9%. Concentrix’s payout ratio is presently -6.68%.

Analysts Set New Price Targets

CNXC has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a research report on Monday, April 27th. Wall Street Zen lowered shares of Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Barrington Research cut their price objective on shares of Concentrix from $62.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Canaccord Genuity Group cut their price objective on shares of Concentrix from $80.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Robert W. Baird cut their price objective on shares of Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.50.

Insider Transactions at Concentrix

In related news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total value of $133,500,000.00. Following the sale, the insider owned 2,773,667 shares of the company’s stock, valued at $61,714,090.75. The trade was a 68.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Andre S. Valentine bought 2,500 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was acquired at an average cost of $27.95 per share, for a total transaction of $69,875.00. Following the purchase, the chief financial officer owned 89,066 shares of the company’s stock, valued at $2,489,394.70. This trade represents a 2.89% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 0.90% of the company’s stock.

Concentrix Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.