Concentrix Co. (NASDAQ:CNXC) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. lifted its position in shares of Concentrix Co. (NASDAQ:CNXC) by 381.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 342 shares of the company’s stock after acquiring an additional 271 shares during the period. First Horizon Advisors Inc.’s holdings in Concentrix were worth $34,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in CNXC. Parkside Financial Bank & Trust raised its holdings in shares of Concentrix by 146.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after purchasing an additional 374 shares during the period. Headlands Technologies LLC bought a new position in Concentrix in the 3rd quarter valued at about $65,000. EverSource Wealth Advisors LLC increased its stake in Concentrix by 134.9% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the company’s stock valued at $105,000 after buying an additional 754 shares during the period. Blue Trust Inc. lifted its stake in shares of Concentrix by 29.8% in the 4th 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 period. Finally, Covestor Ltd boosted its holdings in shares of Concentrix by 163.3% in the third quarter. Covestor Ltd now owns 1,522 shares of the company’s stock valued at $122,000 after acquiring an additional 944 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell acquired 900 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was purchased at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the transaction, the chief executive officer now owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have acquired 1,679 shares of company stock worth $98,546. 3.00% of the stock is owned by corporate insiders.

Concentrix Trading Down 0.6 %

NASDAQ:CNXC opened at $61.11 on Thursday. The stock has a fifty day simple moving average of $61.39 and a 200 day simple moving average of $79.87. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 0.68 and a beta of 0.55. Concentrix Co. has a 1-year low of $53.89 and a 1-year high of $106.10. 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 announced its earnings results on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. Sell-side analysts forecast that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th were issued a $0.303 dividend. The ex-dividend date of this dividend was Thursday, April 25th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.98%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio is presently 24.95%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Barrington Research cut their target price 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 reissued an “underperform” rating and issued a $60.00 price target (down from $85.00) on shares of Concentrix in a 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 research note on Monday, April 29th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Concentrix presently has a consensus rating of “Hold” and a consensus price target 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.