Dimension Capital Management LLC Takes Position in Concentrix Co. (NASDAQ:CNXC)

Dimension Capital Management LLC purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 38,261 shares of the company's stock, valued at approximately $1,656,000. Dimension Capital Management LLC owned 0.06% of Concentrix at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Fuller & Thaler Asset Management Inc. raised its stake in shares of Concentrix by 38.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Pzena Investment Management LLC raised its stake in shares of Concentrix by 60.0% during the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after purchasing an additional 880,960 shares in the last quarter. Copeland Capital Management LLC raised its stake in shares of Concentrix by 32.9% during the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after purchasing an additional 329,831 shares in the last quarter. Lyrical Asset Management LP raised its stake in shares of Concentrix by 3.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock valued at $54,451,000 after purchasing an additional 41,540 shares in the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Concentrix by 34.0% during the fourth quarter. First Trust Advisors LP now owns 649,755 shares of the company's stock valued at $28,115,000 after purchasing an additional 164,906 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Analyst Upgrades and Downgrades

CNXC has been the subject of a number of research reports. 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 research note on Thursday, January 16th. Bank of America increased their price target on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Finally, Barrington Research decreased their price target on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $65.75.

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell acquired 1,000 shares of the firm's stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 303,362 shares in the company, valued at approximately $13,954,652. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 39,130 shares in the company, valued at approximately $2,164,280.30. The trade was a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,444 shares of company stock worth $1,481,628. 3.20% of the stock is owned by company insiders.

Concentrix Stock Down 1.4%

Shares of CNXC traded down $0.80 during mid-day trading on Tuesday, hitting $54.86. 183,150 shares of the company's stock were exchanged, compared to its average volume of 700,687. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm has a fifty day moving average of $49.05 and a two-hundred day moving average of $46.57. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 0.63 and a beta of 0.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. The firm had revenue of $2.37 billion during 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 quarterly revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $2.57 earnings per share. On average, sell-side analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were issued a $0.3328 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.43%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Concentrix 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.