Savant Capital LLC Buys 24,544 Shares of Concentrix Corporation $CNXC

Savant Capital LLC grew its position in Concentrix Corporation (NASDAQ:CNXC) by 46.1% during the 2nd quarter, Holdings Channel reports. The firm owned 77,733 shares of the company’s stock after purchasing an additional 24,544 shares during the quarter. Savant Capital LLC’s holdings in Concentrix were worth $4,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of Concentrix by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company’s stock valued at $9,213,000 after buying an additional 12,162 shares during the last quarter. State of Alaska Department of Revenue lifted its position in Concentrix by 19.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 77,478 shares of the company’s stock worth $4,094,000 after buying an additional 12,745 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its holdings in Concentrix by 50.1% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 17,981 shares of the company’s stock worth $950,000 after acquiring an additional 5,998 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Concentrix in the 2nd quarter valued at about $1,689,000. Finally, Vanguard Group Inc. increased its position in Concentrix by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 5,242,763 shares of the company’s stock valued at $291,707,000 after acquiring an additional 106,217 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Concentrix Trading Down 5.1%

Shares of NASDAQ CNXC opened at $34.76 on Monday. Concentrix Corporation has a twelve month low of $34.02 and a twelve month high of $66.00. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 7.35, a P/E/G ratio of 0.50 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. The company’s fifty day moving average is $48.22 and its 200-day moving average is $51.88.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th were issued a dividend of $0.36 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, October 24th. Concentrix’s dividend payout ratio is presently 30.44%.

Insiders Place Their Bets

In other Concentrix news, CEO Christopher A. Caldwell bought 2,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average cost of $42.03 per share, with a total value of $84,060.00. Following the completion of the purchase, the chief executive officer owned 286,661 shares in the company, valued at approximately $12,048,361.83. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders bought 4,000 shares of company stock worth $169,410 in the last 90 days. Insiders own 3.20% of the company’s stock.

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.