Concentrix Co. (NASDAQ:CNXC) Shares Purchased by Securian Asset Management Inc.

Securian Asset Management Inc. raised its position in Concentrix Co. (NASDAQ:CNXC) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,990 shares of the company’s stock after purchasing an additional 331 shares during the quarter. Securian Asset Management Inc.’s holdings in Concentrix were worth $392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. FMR LLC grew its holdings in shares of Concentrix by 0.8% in the third quarter. FMR LLC now owns 7,366,776 shares of the company’s stock valued at $590,152,000 after purchasing an additional 57,849 shares in the last quarter. Vanguard Group Inc. grew its stake in Concentrix by 1.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,329,347 shares of the company’s stock worth $346,824,000 after purchasing an additional 71,069 shares in the last quarter. Impactive Capital LP increased its holdings in Concentrix by 30.2% during the 3rd quarter. Impactive Capital LP now owns 3,255,172 shares of the company’s stock worth $260,772,000 after purchasing an additional 754,566 shares during the period. Dimensional Fund Advisors LP raised its position in Concentrix by 5.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,397,083 shares of the company’s stock valued at $137,213,000 after purchasing an additional 69,081 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. boosted its stake in shares of Concentrix by 470.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 969,707 shares of the company’s stock valued at $77,683,000 after buying an additional 799,625 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Christopher A. Caldwell acquired 900 shares of Concentrix stock in a transaction on Friday, April 19th. The stock was bought 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 owns 239,128 shares in the company, valued at $13,053,997.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders bought 1,679 shares of company stock valued at $98,546. Insiders own 3.00% of the company’s stock.

Concentrix Stock Performance

Shares of Concentrix stock opened at $62.82 on Friday. 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 52 week low of $53.89 and a 52 week high of $106.10. The firm’s 50 day moving average is $60.33 and its two-hundred day moving average is $78.74. The firm has a market capitalization of $4.15 billion, a P/E ratio of 12.95, a P/E/G ratio of 0.74 and a beta of 0.55.

Concentrix (NASDAQ:CNXC) last posted its earnings results 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 company had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Research analysts forecast 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 was paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th were given a dividend of $0.303 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is 24.95%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. 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 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 on the stock in a report on Monday, April 29th. Finally, Bank of America reiterated an “underperform” rating and set a $60.00 target price (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $74.75.

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.