UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,769 shares of the company's stock after purchasing an additional 17,019 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Concentrix worth $5,399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Steward Partners Investment Advisory LLC lifted its stake in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after acquiring an additional 286 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after purchasing an additional 490 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of 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 purchasing an additional 444 shares in the last quarter. KBC Group NV increased its holdings in Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after buying an additional 815 shares during the last quarter. Finally, Quarry LP increased its holdings in Concentrix by 843.9% in the fourth quarter. Quarry LP now owns 2,539 shares of the company's stock valued at $110,000 after buying an additional 2,270 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barrington Research lowered their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Bank of America increased their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. One investment 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. According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $65.75.

Concentrix Stock Performance

NASDAQ CNXC traded down $0.19 during trading hours on Wednesday, hitting $54.69. The company had a trading volume of 459,976 shares, compared to its average volume of 711,933. The business has a 50 day moving average of $51.99 and a 200-day moving average of $48.08. The company has a market cap of $3.49 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00. 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 (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, beating the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion during 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 business's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business earned $2.57 EPS. As a group, equities research analysts expect that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were given a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.43%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Insider Activity

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $57.06, for a total value of $28,530.00. Following the transaction, the executive vice president now directly owns 38,130 shares in the company, valued at approximately $2,175,697.80. This trade represents a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Caldwell bought 1,000 shares of the company's stock in a transaction dated Monday, April 21st. The stock was bought at an average cost 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 trade represents a 0.33% increase in their position. The disclosure for this purchase can be found here. Insiders have sold 30,944 shares of company stock valued at $1,510,158 in the last ninety days. 3.20% of the stock is currently owned by company insiders.

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.