Natixis Advisors LLC Takes Position in Concentrix Corporation (NASDAQ:CNXC)

Key Points

• Natixis Advisors LLC recently acquired a new position in Concentrix Corporation, investing approximately $1.54 million for 27,660 shares during the first quarter.
• Analyst ratings for Concentrix vary, with target prices ranging from $54.00 to $80.00, indicating a general consensus of a "Moderate Buy".
• Concentrix declared a quarterly dividend of $0.3328 per share, reflecting a 2.8% yield and a payout ratio of 36.54%.

Natixis Advisors LLC purchased a new stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 27,660 shares of the company's stock, valued at approximately $1,539,000.

Other institutional investors have also bought and sold shares of the company. UMB Bank n.a. raised its holdings in shares of Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Concentrix by 111.8% during the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after purchasing an additional 444 shares during the period. Fifth Third Bancorp raised its holdings in shares of Concentrix by 36.5% during the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after purchasing an additional 548 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Concentrix by 21.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company's stock worth $140,000 after acquiring an additional 580 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Concentrix by 29.9% in the 1st quarter. Blue Trust Inc. now owns 3,129 shares of the company's stock worth $174,000 after acquiring an additional 720 shares during the last quarter. Institutional investors own 90.34% of the company's stock.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the sale, the executive vice president directly owned 37,130 shares in the company, valued at $2,150,198.30. This represents a 1.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.20% of the company's stock.

Concentrix Stock Performance

Shares of Concentrix stock traded up $2.14 on Wednesday, reaching $48.52. 195,175 shares of the company traded hands, compared to its average volume of 802,171. Concentrix Corporation has a 52 week low of $36.28 and a 52 week high of $77.00. The company has a 50 day moving average of $54.87 and a 200 day moving average of $51.63. The firm has a market capitalization of $3.06 billion, a PE ratio of 13.33, a PEG ratio of 0.61 and a beta of 0.53. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The firm's revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.69 earnings per share. Equities analysts forecast that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were issued a $0.3328 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 annualized dividend and a yield of 2.7%. Concentrix's dividend payout ratio (DPR) is 36.54%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group restated a "buy" rating and issued a $80.00 target price on shares of Concentrix in a report on Monday, June 30th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Barrington Research restated an "outperform" rating and issued a $54.00 target price on shares of Concentrix in a report on Tuesday, June 24th. Bank of America lowered their target price on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. Finally, Robert W. Baird upped their target price on shares of Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Concentrix currently has an average rating of "Moderate Buy" and a consensus price target of $66.75.

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.