Deprince Race & Zollo Inc. Makes New Investment in Concentrix Corporation $CNXC

Deprince Race & Zollo Inc. bought a new stake in shares of Concentrix Corporation (NASDAQ:CNXC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 688,360 shares of the company’s stock, valued at approximately $31,768,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Shaker Investments LLC OH bought a new position in shares of Concentrix in the 3rd quarter worth approximately $327,000. CWM LLC grew its position in shares of Concentrix by 8.3% in the 3rd quarter. CWM LLC now owns 86,510 shares of the company’s stock worth $3,992,000 after buying an additional 6,613 shares during the period. Pacer Advisors Inc. bought a new position in shares of Concentrix in the 3rd quarter worth about $429,000. Swedbank AB bought a new position in Concentrix in the 3rd quarter worth about $3,521,000. Finally, Brighton Jones LLC grew its position in Concentrix by 11.3% during the 3rd quarter. Brighton Jones LLC now owns 11,603 shares of the company’s stock valued at $535,000 after purchasing an additional 1,180 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

Shares of CNXC opened at $41.96 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 8.87, a PEG ratio of 0.56 and a beta of 0.50. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.56. Concentrix Corporation has a one year low of $31.63 and a one year high of $66.00. The business has a fifty day moving average of $38.88 and a 200 day moving average of $47.76.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Thursday, September 25th. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.10). The firm had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. Concentrix had a net margin of 3.25% and a return on equity of 16.02%. The firm’s revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.87 EPS. As a group, sell-side analysts anticipate that Concentrix Corporation will post 10.11 EPS for the current year.

Insider Activity at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell acquired 1,000 shares of the stock in a transaction dated Friday, October 31st. The shares were purchased at an average price of $40.00 per share, for a total transaction of $40,000.00. Following the purchase, the chief executive officer directly owned 287,661 shares of the company’s stock, valued at approximately $11,506,440. This trade represents a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have bought 4,000 shares of company stock worth $169,410. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on CNXC shares. Robert W. Baird decreased their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Weiss Ratings lowered shares of Concentrix from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Concentrix in a report on Tuesday, September 23rd. Finally, Barrington Research restated an “outperform” rating and issued a $62.00 price target on shares of Concentrix in a research note on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Concentrix currently has a consensus rating of “Hold” and a consensus target price of $66.25.

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.