Thompson Investment Management Inc. Takes $415,000 Position in Concentrix Co. (NASDAQ:CNXC)

Thompson Investment Management Inc. acquired a new stake in shares of Concentrix Co. (NASDAQ:CNXC) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,270 shares of the company’s stock, valued at approximately $415,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of Concentrix by 381.7% in the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock worth $34,000 after purchasing an additional 271 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of Concentrix during the fourth quarter valued at about $35,000. Parkside Financial Bank & Trust raised its position in shares of Concentrix by 146.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after purchasing an additional 374 shares during the last quarter. Blue Trust Inc. grew its position in Concentrix by 29.8% during the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $113,000 after purchasing an additional 264 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in shares of Concentrix by 9.1% during the fourth quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock valued at $145,000 after buying an additional 123 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Trading Down 1.9 %

Concentrix stock traded down $1.15 during trading on Tuesday, hitting $58.82. The company had a trading volume of 472,759 shares, compared to its average volume of 504,796. The stock has a market cap of $3.88 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.71 and a beta of 0.60. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The company’s 50 day simple moving average is $59.98 and its 200-day simple moving average is $73.98. Concentrix Co. has a 1-year low of $53.89 and a 1-year high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The business had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. As a group, analysts expect that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CNXC has been the topic of a number of research reports. Scotiabank decreased their price target on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Barrington Research reissued an “outperform” rating and issued a $84.00 price target on shares of Concentrix in a research note on Friday. Finally, Bank of America restated an “underperform” rating and set a $60.00 target price (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $74.75.

Insider Activity

In related news, CEO Christopher A. Caldwell acquired 900 shares of the firm’s stock in a transaction dated Friday, April 19th. The stock was acquired at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the purchase, the chief executive officer now owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders have purchased 1,679 shares of company stock worth $98,546. Corporate insiders own 3.00% of the company’s stock.

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.