Concentrix Co. (NASDAQ:CNXC) Shares Sold by AQR Capital Management LLC

AQR Capital Management LLC cut its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 40.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 360,997 shares of the company's stock after selling 242,359 shares during the period. AQR Capital Management LLC owned 0.56% of Concentrix worth $15,620,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Fuller & Thaler Asset Management Inc. raised its stake in Concentrix by 38.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after acquiring an additional 823,228 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Concentrix by 60.0% in 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 during the period. Copeland Capital Management LLC lifted its holdings 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 worth $57,688,000 after purchasing an additional 329,831 shares during the period. Lyrical Asset Management LP grew its position in Concentrix by 3.4% in the 4th quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock valued at $54,451,000 after buying an additional 41,540 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Concentrix by 34.0% in the 4th quarter. First Trust Advisors LP now owns 649,755 shares of the company's stock valued at $28,115,000 after buying an additional 164,906 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Trading Up 3.3 %

CNXC stock traded up $1.64 during midday trading on Thursday, hitting $52.03. The stock had a trading volume of 484,378 shares, compared to its average volume of 701,312. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00. The firm has a market cap of $3.32 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52. The company's 50-day moving average price is $48.39 and its 200 day moving average price is $46.38. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the company posted $2.57 EPS. The company's quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts predict that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Friday, April 25th. Concentrix's payout ratio is currently 33.33%.

Insider Buying and Selling at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $50.70, for a total transaction of $25,350.00. Following the completion of the sale, the executive vice president now directly owns 38,630 shares of the company's stock, valued at approximately $1,958,541. This represents a 1.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction dated 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 directly owns 1,155,862 shares of the company's stock, valued at $56,082,424.24. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,444 shares of company stock valued at $1,481,628. Company insiders own 3.20% of the company's stock.

Wall Street Analysts Forecast Growth

CNXC has been the topic of a number of recent analyst reports. Canaccord Genuity Group dropped their price objective on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Barrington Research lowered their target price on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Finally, Bank of America lifted their price target on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $65.75.

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.