Css LLC Il Makes New Investment in Concentrix Co. (NASDAQ:CNXC)

CSS LLC IL purchased a new position in Concentrix Co. (NASDAQ:CNXC - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,210 shares of the company's stock, valued at approximately $355,000.

Other hedge funds have also modified their holdings of the company. Fuller & Thaler Asset Management Inc. lifted its stake in shares of Concentrix by 38.1% during 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 buying an additional 823,228 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Concentrix by 60.0% during the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after acquiring an additional 880,960 shares during the period. Copeland Capital Management LLC lifted its position in shares of Concentrix by 32.9% in the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after acquiring an additional 329,831 shares in the last quarter. Lyrical Asset Management LP boosted its stake in shares of Concentrix by 3.4% in the fourth quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock worth $54,451,000 after acquiring an additional 41,540 shares during the period. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of Concentrix by 55.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after acquiring an additional 359,476 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America lifted their target price on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Barrington Research cut their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $65.75.

Concentrix Price Performance

Shares of CNXC traded down $0.49 during midday trading on Friday, hitting $55.71. 352,653 shares of the company traded hands, compared to its average volume of 709,343. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 0.63 and a beta of 0.52. The firm has a 50 day moving average of $50.87 and a 200-day moving average of $47.37. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. 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 posted its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.57 earnings per share. On average, analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were given a dividend of $0.3328 per share. The ex-dividend date was Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.39%. Concentrix's dividend payout ratio is currently 33.33%.

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $2,164,280.30. This represents a 1.26% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the completion of the transaction, the director now owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. This represents a 2.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,444 shares of company stock valued at $1,481,628. 3.20% of the stock is owned by corporate insiders.

Concentrix Company 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.