Federated Hermes Inc. Sells 237 Shares of Concentrix Co. (NASDAQ:CNXC)

Federated Hermes Inc. lowered its stake in Concentrix Co. (NASDAQ:CNXC) by 3.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,851 shares of the company’s stock after selling 237 shares during the period. Federated Hermes Inc.’s holdings in Concentrix were worth $575,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. boosted its position in Concentrix by 470.1% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 969,707 shares of the company’s stock valued at $77,683,000 after acquiring an additional 799,625 shares in the last quarter. Impactive Capital LP raised its holdings in Concentrix by 30.2% in the third 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 in the last quarter. AQR Capital Management LLC raised its holdings in Concentrix by 161.3% in the third quarter. AQR Capital Management LLC now owns 794,300 shares of the company’s stock worth $63,488,000 after purchasing an additional 490,361 shares in the last quarter. Copeland Capital Management LLC purchased a new position in Concentrix during the fourth quarter valued at $40,339,000. Finally, Causeway Capital Management LLC boosted its holdings in shares of Concentrix by 43.4% during the 3rd quarter. Causeway Capital Management LLC now owns 658,107 shares of the company’s stock valued at $52,721,000 after buying an additional 199,226 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Concentrix Stock Up 3.6 %

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

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

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be issued a dividend of $0.303 per share. 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 dividend yield of 2.04%. 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 related news, CEO Christopher A. Caldwell bought 900 shares of the stock in a transaction on Friday, April 19th. The shares were acquired at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the purchase, the chief executive officer now 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 can be accessed through this link. Insiders have acquired 1,679 shares of company stock valued at $98,546 over the last ninety days. Insiders own 3.00% of the company’s stock.

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.