Concentrix Co. (NASDAQ:CNXC) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 779,801 shares of the company's stock after selling 86,867 shares during the quarter. Dimensional Fund Advisors LP owned 1.21% of Concentrix worth $33,741,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Pzena Investment Management LLC increased its position 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 worth $101,667,000 after acquiring an additional 880,960 shares in the last quarter. Marshall Wace LLP increased its holdings in Concentrix by 209.0% in the 4th quarter. Marshall Wace LLP now owns 593,043 shares of the company's stock valued at $25,661,000 after purchasing an additional 401,133 shares in the last quarter. Norges Bank acquired a new stake in Concentrix in the 4th quarter valued at $15,315,000. Copeland Capital Management LLC raised its position in Concentrix by 32.9% in 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 during the period. Finally, Invesco Ltd. lifted its stake in shares of Concentrix by 138.6% during the fourth quarter. Invesco Ltd. now owns 402,457 shares of the company's stock worth $17,414,000 after purchasing an additional 233,765 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Canaccord Genuity Group dropped their target price 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 dropped their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Finally, Bank of America upped their target price on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $65.75.

Insider Activity at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell bought 1,000 shares of the stock in a transaction on Monday, April 21st. The stock was purchased at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the purchase, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,444 shares of company stock valued at $1,481,628 over the last three months. 3.20% of the stock is owned by insiders.

Concentrix Price Performance

CNXC stock opened at $51.10 on Monday. The stock's 50 day moving average is $48.09 and its two-hundred day moving average is $46.32. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The company has a market capitalization of $3.26 billion, a PE ratio of 13.77, a P/E/G ratio of 0.63 and a beta of 0.51. 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 issued 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 net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business's revenue was down 1.3% compared to the same quarter last year. Analysts predict that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a $0.3328 dividend. The ex-dividend date 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 33.33%.

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.

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