No, it's Tier 3 from what I've read. For some reason the CX series has been put in tier 4 along with the VS series. The CX series are definitely better and should be in Tier 3.
This list is pretty comprehensive and gives you some idea of how everything stacks up.
http://www.tomshardware.co.uk/forum/id-2547993/psu-tier-list.html
If you look, the BeQuiet Pure Power series is Tier 3.
If you use this list as a reference, you should be able to find a Tier 2-3 PSU in your budget.
As someone who's always bought higher-end PSUs, hopefully you can understand why I find it hard to recommend cheaper units!