Concentrix Co. (NASDAQ:CNXC) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 38.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 153,419 shares of the company's stock after acquiring an additional 42,795 shares during the period. Envestnet Asset Management Inc. owned about 0.24% of Concentrix worth $6,638,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after purchasing an additional 286 shares in the last quarter. Venturi Wealth Management LLC increased its holdings 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. Parkside Financial Bank & Trust raised its stake in 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 buying an additional 444 shares in the last quarter. KBC Group NV lifted its holdings in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after buying an additional 815 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in Concentrix by 665.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company's stock valued at $180,000 after acquiring an additional 3,624 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

Analyst Ratings Changes

CNXC has been the subject of a number of analyst reports. Bank of America upped their price objective on 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 decreased their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Barrington Research cut their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $69.60.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell bought 1,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 303,362 shares in the company, valued at approximately $13,954,652. This represents a 0.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the transaction, the executive vice president now directly owns 41,111 shares of the company's stock, valued at $2,285,771.60. This represents a 1.20 % 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 valued at $1,484,078 in the last ninety days. Company insiders own 3.20% of the company's stock.

Concentrix Stock Down 1.3 %

Concentrix stock traded down $0.65 during midday trading on Friday, reaching $50.13. The company's stock had a trading volume of 122,620 shares, compared to its average volume of 696,570. 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 stock has a market capitalization of $3.20 billion, a P/E ratio of 13.50, a PEG ratio of 0.63 and a beta of 0.51. The stock's 50-day simple moving average is $47.57 and its 200-day simple moving average is $46.26. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00.

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

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.66%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

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.