Quantinno Capital Management LP Increases Holdings in Concentrix Co. (NASDAQ:CNXC)

Quantinno Capital Management LP raised its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 131.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,181 shares of the company's stock after purchasing an additional 40,980 shares during the period. Quantinno Capital Management LP owned approximately 0.11% of Concentrix worth $3,123,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its holdings in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after acquiring an additional 286 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares during the last quarter. KBC Group NV grew its position in shares of Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after buying an additional 815 shares in the last quarter. Finally, Quarry LP boosted its stake in Concentrix by 843.9% during the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after purchasing an additional 2,270 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Concentrix Stock Down 0.9%

CNXC traded down $0.49 during trading on Friday, reaching $55.71. 352,653 shares of the stock traded hands, compared to its average volume of 709,343. The stock has a market cap of $3.56 billion, a price-to-earnings ratio of 15.02, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52. The stock's 50-day simple moving average is $50.87 and its two-hundred day simple moving average is $47.37. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick 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 data 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. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company's revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. As a group, equities research analysts expect that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were paid a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date of this dividend was Friday, April 25th. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Insider Buying and Selling at Concentrix

In related news, Director Olivier Duha sold 29,444 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the completion of the transaction, the director now owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. The trade was a 2.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the sale, the executive vice president now directly owns 39,130 shares of the company's stock, valued at approximately $2,164,280.30. This trade represents a 1.26% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,444 shares of company stock valued at $1,481,628. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CNXC has been the topic of a number of recent research reports. Barrington Research reduced their price objective on 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 raised their target price on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. One equities 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 company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target 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.