Concentrix Corporation $CNXC Stake Raised by Arkadios Wealth Advisors

Arkadios Wealth Advisors increased its holdings in Concentrix Corporation (NASDAQ:CNXC) by 63.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 15,894 shares of the company’s stock after purchasing an additional 6,180 shares during the quarter. Arkadios Wealth Advisors’ holdings in Concentrix were worth $840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its position in Concentrix by 850.1% during the 1st 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. Capital Management Corp VA bought a new stake in shares of Concentrix during the second quarter valued at about $17,230,000. Goldman Sachs Group Inc. raised its stake in shares of Concentrix by 75.1% during the first quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company’s stock valued at $23,552,000 after purchasing an additional 181,546 shares in the last quarter. Ieq Capital LLC acquired a new stake in Concentrix in the first quarter worth about $9,380,000. Finally, Nuveen LLC bought a new position in Concentrix in the 1st quarter valued at about $8,575,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Trading Down 1.6%

Concentrix 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 price-to-earnings-growth ratio of 0.58 and a beta of 0.49. Concentrix Corporation has a 1 year low of $36.28 and a 1 year high of $66.00. The firm’s 50 day moving average price is $49.56 and its two-hundred day moving average price is $52.23. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.56 and a current ratio of 1.56.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend is Friday, October 24th. Concentrix’s payout ratio is presently 30.44%.

Analysts Set New Price Targets

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

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average price of $42.03 per share, for a total transaction of $84,060.00. Following the transaction, the chief executive officer directly owned 286,661 shares of the company’s stock, valued at $12,048,361.83. This trade represents a 0.70% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by corporate insiders.

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.