Copeland Capital Management LLC Increases Stock Position in Concentrix Corporation (NASDAQ:CNXC)

Copeland Capital Management LLC grew its stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 3.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,373,432 shares of the company's stock after buying an additional 40,226 shares during the period. Concentrix makes up about 1.5% of Copeland Capital Management LLC's holdings, making the stock its 13th biggest holding. Copeland Capital Management LLC owned 2.15% of Concentrix worth $76,418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pzena Investment Management LLC boosted its stake in shares of Concentrix by 60.0% in the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after purchasing an additional 880,960 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Concentrix by 38.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Concentrix in the 4th quarter valued at $21,123,000. Millennium Management LLC boosted its stake in shares of Concentrix by 232.9% in the 4th quarter. Millennium Management LLC now owns 578,700 shares of the company's stock valued at $25,040,000 after purchasing an additional 404,885 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of 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. Hedge funds and other institutional investors own 90.34% of the company's stock.

Concentrix Trading Down 6.2%

NASDAQ:CNXC traded down $3.42 during trading hours on Friday, hitting $51.71. The company had a trading volume of 2,359,685 shares, compared to its average volume of 734,237. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.65 and a quick ratio of 1.65. The stock has a 50-day moving average price of $53.86 and a 200 day moving average price of $49.50. The company has a market capitalization of $3.30 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.67 and a beta of 0.56. Concentrix Corporation 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 earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing analysts' consensus estimates 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 16.51%. The company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.69 EPS. On average, equities research analysts predict that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

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 paid a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date is Friday, July 25th. Concentrix's payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

CNXC has been the subject of a number of research reports. Barrington Research reaffirmed an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a research note on Tuesday, June 24th. Robert W. Baird lifted their target price on shares of Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Bank of America cut their price target on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.75.

Insider Activity

In related news, Director Olivier Duha sold 29,444 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $55.31, for a total transaction of $27,655.00. Following the sale, the executive vice president now directly owns 39,130 shares of the company's stock, 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 90 days, insiders have sold 30,944 shares of company stock valued at $1,510,158. Corporate insiders own 3.20% of the company's stock.

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.