Janus Henderson Group PLC Raises Position in Concentrix Co. (NASDAQ:CNXC)

Janus Henderson Group PLC lifted its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 15.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,348 shares of the company's stock after purchasing an additional 15,849 shares during the period. Janus Henderson Group PLC owned 0.19% of Concentrix worth $5,207,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CNXC. Steward Partners Investment Advisory LLC lifted its position in shares of Concentrix by 81.3% during the 4th 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 in the last quarter. Rhumbline Advisers raised its stake in Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock worth $5,565,000 after acquiring an additional 324 shares during the period. Parkside Financial Bank & Trust lifted its holdings in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after purchasing an additional 444 shares in the last quarter. Xponance Inc. boosted its position in shares of Concentrix by 8.9% in the fourth quarter. Xponance Inc. now owns 5,540 shares of the company's stock worth $240,000 after purchasing an additional 455 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after purchasing an additional 490 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CNXC. Barrington Research lowered their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. Bank of America boosted their price objective on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $65.75.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell acquired 1,000 shares of the company's stock in a transaction on Monday, April 21st. The stock was acquired at an average cost of $46.00 per share, with a total value of $46,000.00. Following the purchase, the chief executive officer now directly owns 303,362 shares of the company's stock, valued at approximately $13,954,652. This represents a 0.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 owns 39,130 shares in the company, valued at $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 ninety days, insiders sold 30,444 shares of company stock worth $1,481,628. 3.20% of the stock is currently owned by insiders.

Concentrix Stock Performance

CNXC opened at $56.22 on Monday. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 15.15, a PEG ratio of 0.63 and a beta of 0.52. The company has a fifty day moving average of $49.78 and a 200 day moving average of $46.89. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. The business's revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were issued a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.37%. Concentrix's dividend payout ratio (DPR) is 33.33%.

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.

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