Nomura Holdings Inc. Takes $268,000 Position in Concentrix Co. (NASDAQ:CNXC)

Nomura Holdings Inc. acquired a new position in Concentrix Co. (NASDAQ:CNXC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,193 shares of the company's stock, valued at approximately $268,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Barclays PLC increased its stake in Concentrix by 134.3% during the third quarter. Barclays PLC now owns 35,862 shares of the company's stock worth $1,837,000 after acquiring an additional 20,559 shares during the last quarter. Impact Partnership Wealth LLC bought a new position in Concentrix during the 4th quarter valued at about $323,000. KBC Group NV lifted its stake in Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after purchasing an additional 815 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Concentrix by 24.9% during the fourth quarter. Pacer Advisors Inc. now owns 25,084 shares of the company's stock valued at $1,085,000 after buying an additional 4,997 shares during the period. Finally, Copeland Capital Management LLC grew its stake in shares of Concentrix by 32.9% during the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after buying an additional 329,831 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Cormac J. Twomey sold 500 shares of the company's 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 of the company's stock, valued at $2,164,280.30. This represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the business's stock in a transaction dated Monday, April 21st. The shares were bought at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the acquisition, the chief executive officer now owns 303,362 shares of the company's stock, valued at approximately $13,954,652. This represents a 0.33% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety 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 0.9%

Shares of CNXC traded down $0.52 during mid-day trading on Wednesday, hitting $57.02. The company's stock had a trading volume of 65,312 shares, compared to its average volume of 706,018. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The company's 50-day moving average is $51.29 and its 200-day moving average is $47.54. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.63 and a beta of 0.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its 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 company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix's revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 earnings per share. On average, equities research analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were paid a $0.3328 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.33%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Analyst Ratings Changes

CNXC has been the subject of a number of research analyst reports. Bank of America raised their price target on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Barrington Research cut their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $65.75.

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.