Wealth Enhancement Advisory Services LLC Reduces Position in Concentrix Corporation $CNXC

Wealth Enhancement Advisory Services LLC trimmed its position in Concentrix Corporation (NASDAQ:CNXC) by 46.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 33,080 shares of the company’s stock after selling 28,806 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Concentrix were worth $1,457,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Huntington National Bank grew its stake in shares of Concentrix by 6,011.1% during the third quarter. Huntington National Bank now owns 550 shares of the company’s stock worth $25,000 after purchasing an additional 541 shares in the last quarter. Quent Capital LLC acquired a new stake in Concentrix in the third quarter valued at $29,000. Larson Financial Group LLC raised its stake in Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock valued at $32,000 after buying an additional 479 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings in Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after buying an additional 522 shares during the last quarter. Finally, Rothschild Investment LLC lifted its holdings in Concentrix by 14,980.0% during the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock worth $35,000 after buying an additional 749 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNXC has been the topic of a number of recent analyst reports. Wall Street Zen downgraded Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Canaccord Genuity Group decreased their target price on Concentrix from $80.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, March 25th. Barrington Research lowered their price target on Concentrix from $62.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Weiss Ratings lowered shares of Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, January 29th. Finally, Robert W. Baird cut their price objective on shares of Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.50.

Insiders Place Their Bets

In other news, CEO Christopher A. Caldwell acquired 1,000 shares of Concentrix stock in a transaction on Thursday, January 29th. The stock was bought at an average price 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 in the company, valued at $13,422,120.25. This represents a 0.28% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Concentrix Stock Performance

NASDAQ CNXC opened at $27.27 on Friday. The company has a fifty day moving average of $32.85 and a two-hundred day moving average of $38.93. The company has a market capitalization of $1.67 billion, a PE ratio of -1.27, a P/E/G ratio of 0.34 and a beta of 0.50. Concentrix Corporation has a 1 year low of $24.27 and a 1 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 1.40.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same quarter last year, the firm posted $2.79 EPS. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders 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 annualized dividend and a yield of 5.3%. Concentrix’s payout ratio is -6.68%.

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.