Bleakley Financial Group LLC Acquires 1,287 Shares of Concentrix Co. (NASDAQ:CNXC)

Bleakley Financial Group LLC raised its holdings in Concentrix Co. (NASDAQ:CNXC) by 42.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,343 shares of the company’s stock after buying an additional 1,287 shares during the quarter. Bleakley Financial Group LLC’s holdings in Concentrix were worth $427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNXC. Algert Global LLC acquired a new stake in shares of Concentrix in the 3rd quarter valued at $1,549,000. Copeland Capital Management LLC acquired a new stake in shares of Concentrix in the 4th quarter valued at $40,339,000. Blue Trust Inc. boosted its stake in shares of Concentrix by 29.8% in the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after purchasing an additional 264 shares in the last quarter. Mariner LLC boosted its stake in shares of Concentrix by 211.5% in the 3rd quarter. Mariner LLC now owns 19,182 shares of the company’s stock valued at $1,537,000 after purchasing an additional 13,024 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Concentrix by 65.5% in the 3rd quarter. Tower Research Capital LLC TRC now owns 4,329 shares of the company’s stock valued at $347,000 after purchasing an additional 1,713 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Down 1.6 %

Shares of NASDAQ CNXC opened at $59.22 on Monday. The firm’s 50-day simple moving average is $70.37 and its 200 day simple moving average is $82.65. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. Concentrix Co. has a 12-month low of $56.81 and a 12-month high of $113.04.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.92 by $0.15. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. The business had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.20 billion. On average, research analysts expect that Concentrix Co. will post 11.03 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be given a dividend of $0.303 per share. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a yield of 2.05%. Concentrix’s dividend payout ratio is presently 24.95%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CNXC. Barrington Research reduced their target price on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th. Bank of America reiterated an “underperform” rating and set a $60.00 price target (down previously from $85.00) on shares of Concentrix 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 two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $82.25.

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.