Concentrix Co. (NASDAQ:CNXC) Stock Holdings Boosted by First Trust Advisors LP

First Trust Advisors LP grew its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 34.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 649,755 shares of the company's stock after buying an additional 164,906 shares during the period. First Trust Advisors LP owned 1.01% of Concentrix worth $28,115,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CNXC. Steward Partners Investment Advisory LLC boosted its stake in shares of Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after purchasing an additional 490 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after purchasing an additional 444 shares during the period. KBC Group NV raised its stake 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 purchasing an additional 815 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in shares of Concentrix by 49.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock worth $122,000 after purchasing an additional 935 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Price Performance

Shares of CNXC stock traded down $0.41 during mid-day trading on Thursday, reaching $50.65. The stock had a trading volume of 78,925 shares, compared to its average volume of 699,374. The company has a market cap of $3.24 billion, a P/E ratio of 13.69, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. 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 Co. has a 12-month low of $36.28 and a 12-month high of $77.00. The business has a 50-day simple moving average of $47.90 and a 200 day simple moving average of $46.36.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.57 earnings per share. On average, sell-side analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be given a $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.63%. Concentrix's dividend payout ratio is presently 33.33%.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell acquired 1,000 shares of the company'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 completion of the purchase, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction dated 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 directly 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 disclosure for this sale can be found here. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CNXC has been the subject of several analyst reports. Barrington Research cut their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Bank of America raised their price target on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Canaccord Genuity Group cut their price objective on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price 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.