Invenomic Capital Management LP Has $36.35 Million Position in Concentrix Corporation $CNXC

Invenomic Capital Management LP boosted its position in Concentrix Corporation (NASDAQ:CNXC) by 6.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 874,241 shares of the company’s stock after purchasing an additional 51,896 shares during the quarter. Concentrix comprises 1.7% of Invenomic Capital Management LP’s portfolio, making the stock its 15th biggest holding. Invenomic Capital Management LP’s holdings in Concentrix were worth $36,351,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Osaic Holdings Inc. increased its holdings in Concentrix by 13.4% in the 2nd quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock worth $118,000 after purchasing an additional 263 shares in the last quarter. State of Wyoming raised its position in Concentrix by 6.2% during the 4th quarter. State of Wyoming now owns 5,029 shares of the company’s stock worth $209,000 after purchasing an additional 293 shares during the last quarter. Deutsche Bank AG raised its position in Concentrix by 4.7% during the 4th quarter. Deutsche Bank AG now owns 6,767 shares of the company’s stock worth $281,000 after purchasing an additional 303 shares during the last quarter. Clearstead Advisors LLC raised its position in Concentrix by 26.4% during the 3rd quarter. Clearstead Advisors LLC now owns 1,650 shares of the company’s stock worth $76,000 after purchasing an additional 345 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its position in Concentrix by 4.5% during the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company’s stock worth $473,000 after purchasing an additional 384 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CNXC shares. Wall Street Zen lowered Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Barrington Research reduced their price target on Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Canaccord Genuity Group reduced their price target on Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of Concentrix in a research report on Monday, April 27th. Finally, Robert W. Baird reduced their price target on Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $48.50.

Concentrix Stock Down 4.5%

Shares of Concentrix stock opened at $25.42 on Thursday. Concentrix Corporation has a one year low of $22.05 and a one year high of $62.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18. The stock’s 50-day moving average is $26.42 and its 200 day moving average is $32.79. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -1.18, a PEG ratio of 0.33 and a beta of 0.44.

Concentrix (NASDAQ:CNXC) last announced 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). The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 EPS. Equities research analysts anticipate that Concentrix Corporation will post 10.42 EPS for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were issued a $0.36 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.44 annualized dividend and a yield of 5.7%. Concentrix’s dividend payout ratio is presently -6.68%.

Insider Activity at Concentrix

In other news, CFO Andre S. Valentine purchased 2,500 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were acquired at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the acquisition, the chief financial officer owned 89,066 shares in the company, valued at approximately $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the insider owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. The trade was 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 currently owned by corporate insiders.

About Concentrix

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.