Copeland Capital Management LLC Has $45.28 Million Stock Position in Concentrix Corporation $CNXC

Key Points

• Copeland Capital Management reduced its stake in Concentrix by 10% to 1,088,922 shares, worth $45.28 million, and institutional investors now own about 90.34% of the company.
• Analyst sentiment is mixed with multiple price-target cuts and rating changes; MarketBeat shows an average rating of Hold and an average price target of $48.50.
• Concentrix slightly missed quarterly EPS ($2.61 vs. $2.65 est.), reports a negative net margin and elevated debt (debt-to-equity 1.43), but announced a quarterly dividend of $0.36 (5.4% yield).

Copeland Capital Management LLC lowered its stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,088,922 shares of the company's stock after selling 121,558 shares during the period. Copeland Capital Management LLC owned 1.75% of Concentrix worth $45,277,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in Concentrix by 6,011.1% in the third quarter. Huntington National Bank now owns 550 shares of the company's stock valued at $25,000 after buying an additional 541 shares in the last quarter. Quent Capital LLC acquired a new stake in Concentrix in the third quarter valued at approximately $29,000. Larson Financial Group LLC boosted its position in Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company's stock valued at $32,000 after buying an additional 479 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock valued at $34,000 after buying an additional 522 shares in the last quarter. Finally, Rothschild Investment LLC boosted its position in Concentrix by 14,980.0% in the third quarter. Rothschild Investment LLC now owns 754 shares of the company's stock valued at $35,000 after buying an additional 749 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CNXC shares. Weiss Ratings lowered shares of Concentrix from a "hold (c-)" rating to a "sell (d)" rating in a report on Thursday, January 29th. Robert W. Baird cut their price target on shares of Concentrix from $52.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, March 25th. Barrington Research cut their price target on shares of Concentrix from $62.00 to $38.00 and set an "outperform" rating on the stock in a report on Wednesday, March 25th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Canaccord Genuity Group cut their price target on shares of Concentrix from $80.00 to $55.00 and set a "buy" rating on the stock in a report on Wednesday, March 25th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $48.50.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $26.77 on Friday. The firm has a market cap of $1.63 billion, a PE ratio of -1.24, a price-to-earnings-growth ratio of 0.36 and a beta of 0.50. The firm's fifty day moving average is $30.14 and its 200-day moving average is $36.72. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.18 and a current ratio of 1.18. Concentrix Corporation has a 52 week low of $24.27 and a 52 week high of $62.14.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.04). The business had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.Concentrix's revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $2.79 EPS. Sell-side analysts predict that Concentrix Corporation will post 10.42 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be issued a $0.36 dividend. The ex-dividend date is Friday, April 24th. This represents a $1.44 annualized dividend and a yield of 5.4%. Concentrix's payout ratio is presently -6.68%.

Insider Buying and Selling at Concentrix

In other news, CEO Christopher A. Caldwell bought 1,000 shares of the company's stock in a transaction that occurred on Thursday, January 29th. The shares were acquired at an average price of $37.07 per share, for a total transaction of $37,070.00. Following the completion of the acquisition, the chief executive officer directly owned 362,075 shares in the company, valued at approximately $13,422,120.25. This represents a 0.28% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Andre S. Valentine bought 2,500 shares of the company's stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the acquisition, the chief financial officer owned 89,066 shares of the company's stock, valued at $2,489,394.70. This trade represents a 2.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.90% of the stock is owned by insiders.

Concentrix Company Profile

Concentrix Inc NASDAQ: CNXC is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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