DekaBank Deutsche Girozentrale Has $4.91 Million Position in Concentrix Co. (NASDAQ:CNXC)

DekaBank Deutsche Girozentrale increased its stake in Concentrix Co. (NASDAQ:CNXC) by 482.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 50,245 shares of the company’s stock after purchasing an additional 41,619 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.08% of Concentrix worth $4,910,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNXC. Algert Global LLC acquired a new position in shares of Concentrix during the third quarter worth approximately $1,549,000. Copeland Capital Management LLC acquired a new position in shares of Concentrix during the fourth quarter worth approximately $40,339,000. Blue Trust Inc. lifted its holdings in shares of Concentrix by 29.8% during the fourth quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $113,000 after buying an additional 264 shares during the last quarter. Mariner LLC lifted its holdings in shares of Concentrix by 211.5% during the third quarter. Mariner LLC now owns 19,182 shares of the company’s stock worth $1,537,000 after buying an additional 13,024 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Concentrix by 65.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,329 shares of the company’s stock worth $347,000 after buying an additional 1,713 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $60.20 on Friday. The business has a fifty day simple moving average of $70.94 and a 200 day simple moving average of $82.61. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 0.68 and a beta of 0.48. Concentrix Co. has a one year low of $56.81 and a one year high of $113.65.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, January 24th. The company reported $3.07 EPS for the quarter, beating analysts’ consensus estimates of $2.92 by $0.15. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.20 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. Sell-side analysts expect that Concentrix Co. will post 11.03 EPS for the current year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.303 per share. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s dividend payout ratio is currently 24.95%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on CNXC shares. Bank of America reiterated an “underperform” rating and set a $60.00 price target (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Barrington Research lowered their price objective on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $95.80.

About Concentrix

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.