Brevan Howard Capital Management LP Acquires 36,723 Shares of Concentrix Co. (NASDAQ:CNXC)

Brevan Howard Capital Management LP lifted its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 444.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,983 shares of the company's stock after buying an additional 36,723 shares during the period. Brevan Howard Capital Management LP owned approximately 0.07% of Concentrix worth $1,946,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its stake in Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares during the last quarter. Venturi Wealth Management LLC grew its position in Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares during the last quarter. KBC Group NV grew its holdings in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after purchasing an additional 815 shares during the last quarter. Finally, Quarry LP increased its position in Concentrix by 843.9% during the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after purchasing an additional 2,270 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Stock Performance

Shares of Concentrix stock opened at $50.27 on Wednesday. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average price of $48.29 and a two-hundred day moving average price of $46.35. The company has a market cap of $3.21 billion, a P/E ratio of 13.55, a PEG ratio of 0.63 and a beta of 0.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. During the same period in the prior year, the business earned $2.57 EPS. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts anticipate that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The company also recently declared 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 2.65%. Concentrix's payout ratio is currently 33.33%.

Insider Activity

In related news, Director Olivier Duha sold 29,444 shares of the firm's stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 value of $27,655.00. Following the completion of the sale, the executive vice president now directly owns 39,130 shares of the company's stock, valued at approximately $2,164,280.30. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,444 shares of company stock worth $1,481,628 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CNXC has been the topic of a number of research reports. Canaccord Genuity Group lowered their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 16th. Bank of America lifted their price target on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Finally, Barrington Research decreased their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. 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's stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.