Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Sei Investments Co.

Sei Investments Co. increased its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 16.5% during the fourth quarter, HoldingsChannel reports. The fund owned 65,116 shares of the company’s stock after buying an additional 9,237 shares during the period. Sei Investments Co.’s holdings in Concentrix were worth $2,818,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC lifted its stake in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after buying an additional 286 shares in the last quarter. Rhumbline Advisers raised its stake in Concentrix by 0.3% during the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock worth $5,565,000 after purchasing an additional 324 shares during the period. Parkside Financial Bank & Trust grew its position in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after acquiring an additional 444 shares during the period. Xponance Inc. increased its position in Concentrix by 8.9% during the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after purchasing an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its position in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after acquiring an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNXC shares. Barrington Research reduced their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Canaccord Genuity Group decreased their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Finally, Bank of America lifted their price objective on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Concentrix currently has an average rating of “Buy” and an average price target of $69.60.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of the transaction, the executive vice president now directly owns 39,130 shares in the company, valued at $2,164,280.30. This represents a 1.26 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Concentrix Price Performance

CNXC opened at $48.27 on Friday. The company has a market capitalization of $3.11 billion, a P/E ratio of 13.01, a PEG ratio of 0.63 and a beta of 0.51. The company has a 50-day moving average of $48.22 and a 200-day moving average of $47.23. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00.

Concentrix (NASDAQ:CNXC) last announced 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 firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.57 earnings per share. Equities analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.76%. Concentrix’s dividend payout ratio (DPR) is 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.