Man Group plc Purchases 350,036 Shares of Concentrix Co. (NASDAQ:CNXC)

Man Group plc boosted its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 6,212.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,670 shares of the company's stock after purchasing an additional 350,036 shares during the period. Man Group plc owned about 0.55% of Concentrix worth $15,390,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Pzena Investment Management LLC lifted its holdings in Concentrix by 60.0% in the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after buying an additional 880,960 shares during the period. Fuller & Thaler Asset Management Inc. raised its position 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 worth $128,998,000 after acquiring an additional 823,228 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in shares of Concentrix in the 4th quarter valued at about $21,123,000. Millennium Management LLC lifted 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 during the period. Finally, Marshall Wace LLP boosted its position in shares of Concentrix by 209.0% during 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. 90.34% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $55.31, for a total value of $27,655.00. Following the transaction, the executive vice president now owns 39,130 shares in the company, valued at $2,164,280.30. This trade represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. Caldwell bought 1,000 shares of the business's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average cost of $46.00 per share, for a total transaction of $46,000.00. Following the transaction, the chief executive officer now owns 303,362 shares of the company's stock, valued at $13,954,652. The trade was a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 30,444 shares of company stock worth $1,481,628. 3.20% of the stock is owned by corporate insiders.

Concentrix Stock Down 1.1%

Shares of NASDAQ CNXC traded down $0.63 during trading on Friday, hitting $55.57. 62,736 shares of the company traded hands, compared to its average volume of 705,202. The firm has a market capitalization of $3.55 billion, a price-to-earnings ratio of 15.03, a P/E/G ratio of 0.63 and a beta of 0.52. The business's fifty day moving average is $50.68 and its 200 day moving average is $47.21. 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 fifty-two week low of $36.28 and a fifty-two week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The business 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 prior year, the business earned $2.57 EPS. Equities research analysts predict that Concentrix Co. will post 10.11 earnings per share 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 paid 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 yield of 2.40%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

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.