LSV Asset Management Acquires 73,700 Shares of Concentrix Corporation $CNXC

LSV Asset Management boosted its holdings in Concentrix Corporation (NASDAQ:CNXC) by 40.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 257,251 shares of the company’s stock after acquiring an additional 73,700 shares during the quarter. LSV Asset Management’s holdings in Concentrix were worth $10,696,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pzena Investment Management LLC raised its stake in Concentrix by 32.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company’s stock valued at $121,713,000 after buying an additional 714,604 shares during the last quarter. Global Retirement Partners LLC increased its stake in shares of Concentrix by 1,032.5% in the 4th quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock worth $36,000 after purchasing an additional 795 shares in the last quarter. Covestor Ltd boosted its holdings in Concentrix by 5.1% in the 4th quarter. Covestor Ltd now owns 11,158 shares of the company’s stock worth $464,000 after buying an additional 543 shares during the period. Leuthold Group LLC boosted its holdings in Concentrix by 1.2% in the 4th quarter. Leuthold Group LLC now owns 61,463 shares of the company’s stock worth $2,556,000 after buying an additional 755 shares during the period. Finally, AlphaCore Capital LLC boosted its holdings in Concentrix by 1,962.1% in the 4th quarter. AlphaCore Capital LLC now owns 1,196 shares of the company’s stock worth $50,000 after buying an additional 1,138 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Concentrix

In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of Concentrix stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the completion of the sale, the insider directly owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. The trade was a 68.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Andre S. Valentine acquired 2,500 shares of the stock in a transaction dated Thursday, April 9th. The shares were bought at an average price of $27.95 per share, with a total value of $69,875.00. Following the completion of the purchase, the chief financial officer directly owned 89,066 shares of the company’s stock, valued at approximately $2,489,394.70. This trade represents a 2.89% increase in their position. The SEC filing for this purchase provides additional information. 0.90% of the stock is currently owned by insiders.

Concentrix Price Performance

NASDAQ CNXC opened at $26.34 on Tuesday. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.18 and a current ratio of 1.18. The firm’s 50 day moving average price is $27.04 and its 200-day moving average price is $33.74. Concentrix Corporation has a 52-week low of $22.05 and a 52-week high of $62.14. The company has a market cap of $1.61 billion, a PE ratio of -1.22, a P/E/G ratio of 0.33 and a beta of 0.37.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.04). The business had revenue of $2.50 billion for 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%. Concentrix’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 earnings per share. Sell-side analysts forecast that Concentrix Corporation will post 10.42 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend was Friday, April 24th. Concentrix’s payout ratio is currently -6.68%.

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.