Invesco Ltd. Purchases 233,765 Shares of Concentrix Co. (NASDAQ:CNXC)

Invesco Ltd. boosted its holdings in Concentrix Co. (NASDAQ:CNXC) by 138.6% in the fourth quarter, HoldingsChannel reports. The firm owned 402,457 shares of the company’s stock after purchasing an additional 233,765 shares during the period. Invesco Ltd.’s holdings in Concentrix were worth $17,414,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after purchasing an additional 286 shares in the last quarter. Venturi Wealth Management LLC increased its position in shares of Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after acquiring an additional 444 shares during the period. KBC Group NV boosted its position in Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in Concentrix by 665.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company’s stock valued at $180,000 after purchasing an additional 3,624 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Insider Buying and Selling at Concentrix

In other news, Director Kathryn Hayley acquired 500 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average price of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the completion of the sale, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This represents a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,444 shares of company stock worth $1,484,078 over the last three months. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

CNXC has been the topic of several research reports. Barrington Research lowered their price objective on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Bank of America upped their price objective on Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Finally, Canaccord Genuity Group decreased their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $69.60.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $47.33 on Monday. The company has a 50 day moving average of $47.54 and a 200 day moving average of $46.28. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The stock has a market cap of $3.02 billion, a P/E ratio of 12.76, a P/E/G ratio of 0.63 and a beta of 0.51.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $2.57 earnings per share. As a group, sell-side analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix’s dividend payout ratio is currently 33.33%.

Concentrix Company 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.