Concentrix Corporation (NASDAQ:CNXC) Stock Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 165,581 shares of the company's stock after acquiring an additional 12,162 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Concentrix worth $9,213,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. UMB Bank n.a. lifted its stake in shares of Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after acquiring an additional 217 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Concentrix by 111.8% in the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after buying an additional 444 shares during the last quarter. Fifth Third Bancorp increased its holdings in Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after buying an additional 548 shares during the last quarter. Versant Capital Management Inc increased its holdings in Concentrix by 582.5% in the first quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock valued at $117,000 after buying an additional 1,800 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Concentrix by 761.3% in the first quarter. GAMMA Investing LLC now owns 2,446 shares of the company's stock valued at $136,000 after buying an additional 2,162 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $57.06, for a total value of $28,530.00. Following the completion of the transaction, the executive vice president directly owned 38,130 shares of the company's stock, valued at $2,175,697.80. This represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.20% of the company's stock.

Concentrix Stock Performance

Shares of NASDAQ:CNXC traded down $0.23 during trading on Friday, hitting $60.55. 372,477 shares of the company traded hands, compared to its average volume of 758,827. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 16.63, a PEG ratio of 0.81 and a beta of 0.53. The business's fifty day moving average is $56.40 and its 200-day moving average is $51.50. Concentrix Corporation has a one year low of $36.28 and a one year high of $77.00. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company posted $2.69 earnings per share. As a group, equities analysts predict that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, July 25th. Concentrix's dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on CNXC. Bank of America lowered their price objective on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, June 27th. Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a report on Monday, June 30th. Wall Street Zen lowered Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Robert W. Baird boosted their price objective on Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Finally, Barrington Research reissued an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a report on Tuesday, June 24th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $66.75.

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.