Strs Ohio Invests $1.07 Million in Concentrix Corporation $CNXC

Strs Ohio purchased a new position in Concentrix Corporation (NASDAQ:CNXC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 20,232 shares of the company’s stock, valued at approximately $1,069,000.

Other hedge funds have also bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in shares of Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after purchasing an additional 522 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Concentrix by 473.8% in the 2nd quarter. IFP Advisors Inc now owns 700 shares of the company’s stock worth $37,000 after buying an additional 578 shares during the last quarter. PNC Financial Services Group Inc. increased its position in Concentrix by 47.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company’s stock valued at $84,000 after buying an additional 483 shares in the last quarter. Federated Hermes Inc. raised its stake in Concentrix by 124.5% during the first quarter. Federated Hermes Inc. now owns 2,364 shares of the company’s stock valued at $132,000 after buying an additional 1,311 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Concentrix by 45.2% in the second quarter. GAMMA Investing LLC now owns 3,552 shares of the company’s stock worth $188,000 after acquiring an additional 1,106 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Christopher A. Caldwell purchased 1,000 shares of the stock in a transaction dated Friday, October 31st. The shares were purchased at an average cost of $40.00 per share, with a total value of $40,000.00. Following the acquisition, the chief executive officer directly owned 287,661 shares of the company’s stock, valued at $11,506,440. This represents a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In the last ninety days, insiders have acquired 4,000 shares of company stock worth $169,410. 3.20% of the stock is currently owned by insiders.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $36.63 on Friday. The firm’s 50-day moving average price is $48.58 and its 200-day moving average price is $51.91. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $66.00. The company has a market cap of $2.28 billion, a PE ratio of 7.74, a PEG ratio of 0.55 and a beta of 0.49. 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 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th were given a $0.36 dividend. This is a boost from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.44 dividend on an annualized basis and a yield of 3.9%. Concentrix’s payout ratio is presently 30.44%.

Wall Street Analyst Weigh In

CNXC has been the subject of several analyst reports. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of Concentrix in a report on Tuesday, September 23rd. Barrington Research restated an “outperform” rating and set a $62.00 price objective on shares of Concentrix in a research note on Wednesday, September 24th. Weiss Ratings raised shares of Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of Concentrix from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Robert W. Baird reduced their price target on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.25.

Concentrix 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.