BNP Paribas Financial Markets Makes New $294,000 Investment in Concentrix Co. (NASDAQ:CNXC)

BNP Paribas Financial Markets bought a new stake in Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,799 shares of the company's stock, valued at approximately $294,000.

Several other large investors also recently made changes to their positions in CNXC. Steward Partners Investment Advisory LLC lifted its position in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC lifted its holdings in Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after acquiring an additional 490 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Concentrix by 58.7% during 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 in the last quarter. KBC Group NV lifted its holdings in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after purchasing an additional 815 shares in the last quarter. Finally, Quarry LP lifted its holdings in shares of Concentrix by 843.9% in the fourth quarter. Quarry LP now owns 2,539 shares of the company's stock valued at $110,000 after purchasing an additional 2,270 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Concentrix Trading Up 0.7%

Shares of NASDAQ:CNXC traded up $0.39 during midday trading on Thursday, hitting $57.44. 411,685 shares of the stock traded hands, compared to its average volume of 709,595. The stock has a market capitalization of $3.67 billion, a PE ratio of 15.48, a P/E/G ratio of 0.63 and a beta of 0.52. The business's 50 day moving average is $51.54 and its two-hundred day moving average is $47.60. 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 Co. has a one year low of $36.28 and a one year high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating 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 the consensus estimate of $2.37 billion. During the same quarter last year, the firm earned $2.57 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.32%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell acquired 1,000 shares of the firm's stock in a transaction on Monday, April 21st. The shares were acquired at an average cost of $46.00 per share, with a total value of $46,000.00. Following the completion of the acquisition, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 directly owns 39,130 shares in the company, valued at approximately $2,164,280.30. This represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 30,444 shares of company stock worth $1,481,628. Insiders own 3.20% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CNXC shares. Bank of America upped their target price on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Barrington Research reduced 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 equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently 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.