Pacer Advisors Inc. Cuts Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Pacer Advisors Inc. trimmed its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 98.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,103 shares of the company's stock after selling 492,221 shares during the period. Pacer Advisors Inc.'s holdings in Concentrix were worth $698,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CNXC. Quarry LP purchased a new position in Concentrix in the 1st quarter worth approximately $26,000. Headlands Technologies LLC purchased a new position in Concentrix in the 3rd quarter worth approximately $65,000. Ronald Blue Trust Inc. lifted its stake in Concentrix by 382.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 887 shares of the company's stock worth $72,000 after purchasing an additional 703 shares in the last quarter. State of Wyoming lifted its stake in Concentrix by 388.1% in the 2nd quarter. State of Wyoming now owns 1,064 shares of the company's stock worth $86,000 after purchasing an additional 846 shares in the last quarter. Finally, Royal Bank of Canada lifted its stake in Concentrix by 80.4% in the 3rd quarter. Royal Bank of Canada now owns 1,097 shares of the company's stock worth $122,000 after purchasing an additional 489 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CNXC. Bank of America reissued an "underperform" rating and issued a $60.00 target price (down from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Barrington Research decreased their target price on shares of Concentrix from $121.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $95.80.

Concentrix Trading Down 0.8 %

Shares of CNXC stock traded down $0.49 during trading on Friday, hitting $58.95. 888,599 shares of the stock traded hands, compared to its average volume of 561,708. The firm has a market capitalization of $3.91 billion, a P/E ratio of 12.15, a price-to-earnings-growth ratio of 0.66 and a beta of 0.48. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.38. The firm's fifty day moving average price is $73.32 and its 200-day moving average price is $82.98. Concentrix Co. has a 52-week low of $56.81 and a 52-week high of $114.43.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Wednesday, January 24th. The company reported $3.07 EPS for the quarter, beating the consensus estimate of $2.92 by $0.15. The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. As a group, research analysts forecast that Concentrix Co. will post 11.03 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be given a $0.303 dividend. This is a positive change from Concentrix's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.21 dividend on an annualized basis and a yield of 2.06%. Concentrix's payout ratio is presently 24.95%.

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.