Wealth Enhancement Advisory Services LLC Trims Holdings in Concentrix Corporation $CNXC

Wealth Enhancement Advisory Services LLC reduced its stake in Concentrix Corporation (NASDAQ:CNXC) by 46.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,080 shares of the company’s stock after selling 28,806 shares during the quarter. Wealth Enhancement Advisory Services LLC owned 0.05% of Concentrix worth $1,457,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CNXC. AQR Capital Management LLC raised its position in Concentrix by 1.8% in the third quarter. AQR Capital Management LLC now owns 4,380,821 shares of the company’s stock valued at $202,175,000 after purchasing an additional 75,352 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Concentrix by 18.4% during the third quarter. Dimensional Fund Advisors LP now owns 1,939,492 shares of the company’s stock worth $89,515,000 after buying an additional 301,550 shares during the period. State Street Corp boosted its position in shares of Concentrix by 8.7% during the second quarter. State Street Corp now owns 1,622,854 shares of the company’s stock worth $85,776,000 after buying an additional 130,529 shares during the period. Invenomic Capital Management LP grew its stake in shares of Concentrix by 19.7% in the third quarter. Invenomic Capital Management LP now owns 822,345 shares of the company’s stock valued at $37,951,000 after buying an additional 135,429 shares in the last quarter. Finally, Deprince Race & Zollo Inc. acquired a new stake in shares of Concentrix in the third quarter valued at $31,768,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $27.27 on Friday. The stock has a market cap of $1.67 billion, a P/E ratio of -1.27, a PEG ratio of 0.34 and a beta of 0.50. The company has a current ratio of 1.18, a quick ratio of 1.40 and a debt-to-equity ratio of 1.43. Concentrix Corporation has a 12-month low of $24.27 and a 12-month high of $62.14. The business’s fifty day simple moving average is $32.85 and its 200-day simple moving average is $38.93.

Concentrix (NASDAQ:CNXC) last released its earnings results on Tuesday, March 24th. The company reported $2.61 EPS 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 analyst estimates of $2.49 billion. During the same period in the previous year, the firm earned $2.79 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, equities analysts predict that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.3%. Concentrix’s payout ratio is currently -6.68%.

Insider Buying and Selling at Concentrix

In other news, CEO Christopher A. Caldwell bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were purchased at an average cost of $37.07 per share, for a total transaction of $37,070.00. Following the completion of the purchase, the chief executive officer owned 362,075 shares of the company’s stock, valued at approximately $13,422,120.25. This represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CNXC shares. Robert W. Baird decreased their target price on Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen downgraded Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Canaccord Genuity Group cut their price target on shares of Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings cut shares of Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, January 29th. Finally, Barrington Research lowered their price objective on shares of Concentrix from $62.00 to $38.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Concentrix has a consensus rating of “Hold” and a consensus price target of $48.50.

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.