Concentrix Corporation $CNXC Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Concentrix Corporation (NASDAQ:CNXC) by 85.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 47,851 shares of the company’s stock after purchasing an additional 22,000 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Concentrix were worth $1,990,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Osaic Holdings Inc. lifted its stake in shares of Concentrix by 13.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock valued at $118,000 after purchasing an additional 263 shares during the last quarter. Clearstead Advisors LLC lifted its stake in shares of Concentrix by 26.4% in the 3rd quarter. Clearstead Advisors LLC now owns 1,650 shares of the company’s stock valued at $76,000 after purchasing an additional 345 shares during the last quarter. Brevan Howard Capital Management LP lifted its stake in shares of Concentrix by 4.5% in the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company’s stock valued at $473,000 after purchasing an additional 384 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Concentrix by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 36,387 shares of the company’s stock valued at $1,923,000 after purchasing an additional 384 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its stake in Concentrix by 7.5% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 5,679 shares of the company’s stock worth $262,000 after acquiring an additional 398 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Activity

In related news, CFO Andre S. Valentine purchased 2,500 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were bought at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the acquisition, the chief financial officer directly owned 89,066 shares in the company, valued at $2,489,394.70. This trade represents a 2.89% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was 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 in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $24.03 on Friday. The stock’s 50-day moving average is $28.02 and its two-hundred day moving average is $34.50. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18. Concentrix Corporation has a 1-year low of $22.05 and a 1-year high of $62.14. The company has a market cap of $1.47 billion, a price-to-earnings ratio of -1.12, a price-to-earnings-growth ratio of 0.29 and a beta of 0.37.

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

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were issued a dividend of $0.36 per share. The ex-dividend date was Friday, April 24th. This represents a $1.44 annualized dividend and a yield of 6.0%. Concentrix’s dividend payout ratio is -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.