Invesco Ltd. Acquires 233,765 Shares of Concentrix Co. (NASDAQ:CNXC)

Invesco Ltd. increased its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 138.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 402,457 shares of the company's stock after buying an additional 233,765 shares during the period. Invesco Ltd. owned 0.62% of Concentrix worth $17,414,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC increased its stake in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Concentrix by 159.6% during the fourth 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 period. Parkside Financial Bank & Trust increased its position 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 buying an additional 444 shares during the last quarter. KBC Group NV raised its stake 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 period. Finally, SRS Capital Advisors Inc. lifted its position in shares of Concentrix by 665.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company's stock valued at $180,000 after buying an additional 3,624 shares during the last quarter. 90.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Concentrix

In related news, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction that occurred 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 transaction, the director now directly owns 1,155,862 shares of the company's stock, valued at $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 available through this link. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the stock in a transaction on Monday, April 21st. The shares were purchased at an average price of $46.00 per share, with a total value of $46,000.00. Following the completion of the transaction, 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. Insiders sold 30,444 shares of company stock valued at $1,484,078 in the last three months. Corporate insiders own 3.20% of the company's stock.

Concentrix Stock Performance

Shares of Concentrix stock traded down $0.65 during trading on Friday, reaching $50.13. The company's stock had a trading volume of 122,620 shares, compared to its average volume of 696,570. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The firm has a market cap of $3.20 billion, a PE ratio of 13.50, a P/E/G ratio of 0.63 and a beta of 0.51. The business's 50-day moving average price is $47.57 and its 200-day moving average price is $46.26. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17.

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

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.66%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

CNXC has been the subject of several research reports. 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. 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 report on Monday, March 24th. Finally, Canaccord Genuity Group lowered their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $69.60.

Concentrix 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.