Janus Henderson Group PLC lifted its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 15.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,348 shares of the company's stock after acquiring an additional 15,849 shares during the quarter. Janus Henderson Group PLC owned 0.19% of Concentrix worth $5,207,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Steward Partners Investment Advisory LLC raised its stake in shares of Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after acquiring an additional 490 shares during the period. Parkside Financial Bank & Trust increased its holdings in Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares during the last quarter. KBC Group NV raised its stake in Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after acquiring an additional 815 shares during the period. Finally, Quarry LP lifted its holdings in Concentrix by 843.9% during 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 during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.
Concentrix Price Performance
NASDAQ CNXC traded down $0.49 during trading on Friday, reaching $55.71. The company's stock had a trading volume of 352,653 shares, compared to its average volume of 709,343. The firm has a fifty day moving average of $50.87 and a 200 day moving average of $47.34. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The stock has a market capitalization of $3.56 billion, a PE ratio of 15.02, a P/E/G ratio of 0.63 and a beta of 0.52. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.
Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. During the same quarter last year, the firm posted $2.57 EPS. The company's revenue was down 1.3% compared to the same quarter last year. Analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.
Concentrix Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders 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 annualized dividend and a dividend yield of 2.39%. Concentrix's payout ratio is currently 33.33%.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on CNXC shares. Bank of America increased their target price on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Barrington Research decreased their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. One 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 company. According to data from MarketBeat.com, Concentrix presently has a consensus rating of "Buy" and a consensus price target of $65.75.
Check Out Our Latest Stock Report on Concentrix
Insider Buying and Selling at Concentrix
In other news, EVP Cormac J. Twomey sold 500 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Olivier Duha sold 29,444 shares of the stock in a transaction dated 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 in the company, valued at $56,082,424.24. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,444 shares of company stock valued at $1,481,628 in the last 90 days. Corporate insiders own 3.20% of the company's stock.
Concentrix Company Profile
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Free Report)
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.
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