Mercer Global Advisors Inc. ADV Invests $495,000 in Concentrix Co. (NASDAQ:CNXC)

Mercer Global Advisors Inc. ADV bought a new position in shares of Concentrix Co. (NASDAQ:CNXC – Get Rating) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 3,714 shares of the company’s stock, valued at approximately $495,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNXC. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Concentrix by 7.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company’s stock valued at $310,000 after buying an additional 133 shares in the last quarter. BlackRock Inc. raised its position in shares of Concentrix by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,668,975 shares of the company’s stock valued at $611,103,000 after purchasing an additional 35,619 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Concentrix by 8.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,644 shares of the company’s stock valued at $4,049,000 after purchasing an additional 1,761 shares during the last quarter. Sei Investments Co. raised its position in shares of Concentrix by 168.7% in the 1st quarter. Sei Investments Co. now owns 22,904 shares of the company’s stock valued at $3,823,000 after purchasing an additional 14,380 shares during the last quarter. Finally, Aviva PLC purchased a new position in shares of Concentrix in the 1st quarter valued at approximately $593,000. 92.31% of the stock is currently owned by institutional investors.

Concentrix Trading Up 5.1 %

Shares of CNXC opened at $95.22 on Tuesday. Concentrix Co. has a 52-week low of $84.03 and a 52-week high of $163.43. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.79. The firm’s fifty day moving average is $105.57 and its two-hundred day moving average is $123.01. The stock has a market cap of $4.96 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 0.80 and a beta of 0.49.

Concentrix (NASDAQ:CNXC – Get Rating) last announced its earnings results on Wednesday, March 29th. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.08). Concentrix had a return on equity of 20.63% and a net margin of 6.42%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Research analysts forecast that Concentrix Co. will post 10.98 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 9th. Stockholders of record on Friday, April 28th were issued a dividend of $0.275 per share. The ex-dividend date was Thursday, April 27th. This represents a $1.10 annualized dividend and a dividend yield of 1.16%. Concentrix’s dividend payout ratio is presently 13.98%.

Wall Street Analysts Forecast Growth

CNXC has been the subject of a number of recent research reports. Barrington Research reissued an “outperform” rating and set a $165.00 price target on shares of Concentrix in a research report on Monday, March 27th. TheStreet cut shares of Concentrix from a “c-” rating to a “d+” rating in a research note on Friday, May 5th. Canaccord Genuity Group began coverage on shares of Concentrix in a research note on Wednesday, April 12th. They issued a “buy” rating and a $150.00 price target on the stock. Finally, Bank of America lifted their price target on shares of Concentrix from $157.00 to $165.00 in a research note on Friday, March 31st.

About Concentrix

(Get Rating)

Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.