Concentrix Co. (NASDAQ:CNXC) Shares Purchased by Barclays PLC

Barclays PLC boosted its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 83.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,934 shares of the company's stock after purchasing an additional 30,072 shares during the period. Barclays PLC owned approximately 0.10% of Concentrix worth $2,853,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC grew its holdings in shares of Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after acquiring an additional 286 shares during the period. Rhumbline Advisers increased its position in shares of Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after purchasing an additional 324 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of Concentrix by 58.7% in 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 during the period. Xponance Inc. boosted its holdings in shares of Concentrix by 8.9% in the fourth quarter. Xponance Inc. now owns 5,540 shares of the company's stock worth $240,000 after buying an additional 455 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after buying an additional 490 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

CNXC has been the topic of several analyst reports. 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 research note on Thursday, March 27th. Canaccord Genuity Group lowered their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Finally, Barrington Research reduced 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 given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $65.75.

Concentrix Price Performance

CNXC stock traded down $0.19 during trading on Monday, reaching $50.91. The company's stock had a trading volume of 37,872 shares, compared to its average volume of 699,401. The company's fifty day moving average is $48.09 and its 200-day moving average is $46.32. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The company has a market capitalization of $3.25 billion, a P/E ratio of 13.72, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The company 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%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 EPS. On average, research analysts expect that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be given 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 2.61%. Concentrix's dividend payout ratio is currently 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.