Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Cwm LLC

Cwm LLC lifted its position in shares of Concentrix Co. (NASDAQ:CNXC) by 29.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,601 shares of the company’s stock after purchasing an additional 590 shares during the period. Cwm LLC’s holdings in Concentrix were worth $255,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Algert Global LLC bought a new stake in Concentrix during the third quarter valued at $1,549,000. Phocas Financial Corp. bought a new stake in Concentrix during the fourth quarter valued at $3,604,000. Copeland Capital Management LLC bought a new position in shares of Concentrix during the fourth quarter worth about $40,339,000. Blue Trust Inc. grew its position 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 acquiring an additional 264 shares during the last quarter. Finally, Mariner LLC grew its position 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 acquiring an additional 13,024 shares during the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CNXC shares. Bank of America restated 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. Scotiabank reduced their price objective on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Finally, Barrington Research cut their price target on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $74.75.

Concentrix Price Performance

CNXC stock opened at $59.35 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. Concentrix Co. has a one year low of $53.89 and a one year high of $106.10. The firm has a market capitalization of $3.92 billion, a PE ratio of 12.24, a P/E/G ratio of 0.64 and a beta of 0.55. The firm has a 50-day moving average of $62.70 and a two-hundred day moving average of $80.27.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Concentrix had a net margin of 3.53% and a return on equity of 17.70%. The firm had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. On average, analysts forecast that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be given a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.04%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s dividend payout ratio is 24.95%.

Insider Transactions at Concentrix

In related news, CEO Christopher A. Caldwell purchased 900 shares of Concentrix stock in a transaction dated Friday, April 19th. The stock was acquired at an average cost of $54.59 per share, with a total value of $49,131.00. Following the completion of the transaction, the chief executive officer now directly owns 239,128 shares of the company’s stock, valued at $13,053,997.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders purchased 1,679 shares of company stock valued at $98,546 over the last three months. 3.00% of the stock is owned by corporate insiders.

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.