Simon Quick Advisors LLC Makes New $326,000 Investment in Concentrix Corporation $CNXC

Simon Quick Advisors LLC acquired a new position in Concentrix Corporation (NASDAQ:CNXC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,161 shares of the company’s stock, valued at approximately $326,000.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Concentrix by 2.1% during the first quarter. Vanguard Group Inc. now owns 5,242,763 shares of the company’s stock worth $291,707,000 after acquiring an additional 106,217 shares during the period. AQR Capital Management LLC increased its position in shares of Concentrix by 850.1% during the first quarter. AQR Capital Management LLC now owns 3,429,913 shares of the company’s stock worth $190,840,000 after acquiring an additional 3,068,916 shares during the period. Boston Partners increased its position in shares of Concentrix by 17.1% during the first quarter. Boston Partners now owns 624,274 shares of the company’s stock worth $33,991,000 after acquiring an additional 91,130 shares during the period. Northern Trust Corp increased its position in shares of Concentrix by 6.2% during the first quarter. Northern Trust Corp now owns 522,746 shares of the company’s stock worth $29,086,000 after acquiring an additional 30,527 shares during the period. Finally, Alyeska Investment Group L.P. increased its position in shares of Concentrix by 5.5% during the first quarter. Alyeska Investment Group L.P. now owns 514,924 shares of the company’s stock worth $28,650,000 after acquiring an additional 26,746 shares during the period. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

Shares of CNXC stock opened at $40.31 on Monday. The firm has a market cap of $2.51 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 0.58 and a beta of 0.49. The company’s 50 day moving average is $49.56 and its 200 day moving average is $52.23. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $66.00.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 4th. Investors of record on Friday, October 24th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, October 24th. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 3.6%. Concentrix’s dividend payout ratio is 30.44%.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell purchased 2,000 shares of the business’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average cost of $42.03 per share, with a total value of $84,060.00. Following the completion of the acquisition, the chief executive officer owned 286,661 shares of the company’s stock, valued at $12,048,361.83. This trade represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CNXC. Weiss Ratings raised shares of Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Concentrix in a research report on Tuesday, September 23rd. Barrington Research reaffirmed an “outperform” rating and set a $62.00 target price on shares of Concentrix in a research report on Wednesday, September 24th. Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Robert W. Baird cut their price objective on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $66.25.

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.