Russell Investments Group Ltd. Buys 44,979 Shares of Concentrix Co. (NASDAQ:CNXC)

Russell Investments Group Ltd. lifted its position in shares of Concentrix Co. (NASDAQ:CNXC) by 78.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 102,454 shares of the company’s stock after purchasing an additional 44,979 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Concentrix worth $10,062,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of Concentrix by 146.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after purchasing an additional 374 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Concentrix during the third quarter worth $65,000. Blue Trust Inc. lifted its position in 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 acquiring an additional 264 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Concentrix by 134.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the company’s stock worth $105,000 after purchasing an additional 754 shares during the period. Finally, Fifth Third Bancorp increased its holdings in Concentrix by 9.1% during the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock worth $145,000 after purchasing an additional 123 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Stock Up 3.6 %

CNXC stock opened at $59.35 on Monday. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 12.24, a P/E/G ratio of 0.68 and a beta of 0.55. Concentrix Co. has a twelve month low of $53.89 and a twelve month high of $106.10. The business has a 50 day moving average price of $62.23 and a two-hundred day moving average price of $80.11. 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 (NASDAQ:CNXC) last released its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.38 billion. Analysts anticipate that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be issued a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost 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 presently 24.95%.

Insider Activity at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell acquired 900 shares of the company’s stock in a transaction on Friday, April 19th. The shares were purchased at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the completion of the purchase, 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 document filed with the SEC, which is available through this link. In the last ninety days, insiders bought 1,679 shares of company stock worth $98,546. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CNXC shares. Barrington Research reduced their price objective on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, March 27th. Bank of America reaffirmed 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. Finally, Scotiabank lowered their price objective on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th. One equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $74.75.

Concentrix Profile

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.