10,752 Shares in Concentrix Co. (NASDAQ:CNXC) Purchased by PharVision Advisers LLC

PharVision Advisers LLC purchased a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,752 shares of the company's stock, valued at approximately $465,000.

Several other hedge funds have also recently bought and sold shares of CNXC. Fuller & Thaler Asset Management Inc. increased its stake in shares of Concentrix by 38.1% in the fourth 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 during the last quarter. Pzena Investment Management LLC grew its stake 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 purchasing an additional 880,960 shares in the last quarter. Copeland Capital Management LLC increased its position in Concentrix by 32.9% in the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock worth $57,688,000 after purchasing an additional 329,831 shares during the last quarter. Lyrical Asset Management LP increased its position in Concentrix by 3.4% in the 4th quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock worth $54,451,000 after purchasing an additional 41,540 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its stake in shares of Concentrix by 55.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after purchasing an additional 359,476 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Stock Down 0.9%

NASDAQ CNXC traded down $0.49 during trading on Monday, hitting $55.71. 352,653 shares of the company traded hands, compared to its average volume of 709,343. The company has a market capitalization of $3.56 billion, a P/E ratio of 15.02, a PEG ratio of 0.63 and a beta of 0.52. The business has a fifty day simple moving average of $50.87 and a 200 day simple moving average of $47.37. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17.

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 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 during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the company earned $2.57 EPS. The company's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors 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 dividend on an annualized basis and a yield of 2.39%. Concentrix's payout ratio is presently 33.33%.

Insider Buying and Selling

In other news, Director Olivier Duha sold 29,444 shares of the firm's stock in a transaction on 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 sale, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This trade represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Christopher A. Caldwell bought 1,000 shares of the company'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 directly owns 303,362 shares of the company's stock, valued at $13,954,652. This trade represents a 0.33% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 30,444 shares of company stock worth $1,481,628 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

CNXC has been the subject of several recent research reports. Bank of America boosted their price target on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Barrington Research reduced their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $65.75.

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.