Hsbc Holdings PLC Has $2.15 Million Stock Position in Concentrix Co. (NASDAQ:CNXC)

Hsbc Holdings PLC boosted its holdings in Concentrix Co. (NASDAQ:CNXC - Free Report) by 51.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,633 shares of the company's stock after purchasing an additional 16,786 shares during the quarter. Hsbc Holdings PLC owned 0.08% of Concentrix worth $2,148,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC grew its position 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 buying an additional 286 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Concentrix by 159.6% during the 4th 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 period. Parkside Financial Bank & Trust grew its holdings in shares of Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after purchasing an additional 444 shares in the last quarter. KBC Group NV increased its position in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after purchasing an additional 815 shares during the period. Finally, Sterling Capital Management LLC raised its stake in Concentrix by 49.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock valued at $122,000 after purchasing an additional 935 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Insider Buying and Selling

In related news, CEO Christopher A. Caldwell purchased 1,000 shares of Concentrix stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the transaction, the chief executive officer now owns 303,362 shares of the company's stock, valued at approximately $13,954,652. This represents a 0.33 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total value of $25,350.00. Following the transaction, the executive vice president now owns 38,630 shares of the company's stock, valued at $1,958,541. This trade represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,444 shares of company stock worth $1,481,628 in the last ninety days. Company insiders own 3.20% of the company's stock.

Concentrix Price Performance

CNXC stock traded up $0.47 during trading on Friday, reaching $51.10. 494,940 shares of the company were exchanged, compared to its average volume of 702,044. The company has a market capitalization of $3.26 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The company has a 50-day moving average of $48.09 and a two-hundred day moving average of $46.34. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. The company 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%. During the same period in the prior year, the company earned $2.57 EPS. Concentrix's revenue was down 1.3% compared to the same quarter last year. As a group, equities analysts predict that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.60%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

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

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.