Raymond James & Associates Has $3.32 Million Holdings in Concentrix Co. (NASDAQ:CNXC)

Raymond James & Associates cut its holdings in Concentrix Co. (NASDAQ:CNXC - Free Report) by 51.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,803 shares of the company's stock after selling 36,223 shares during the period. Raymond James & Associates owned 0.05% of Concentrix worth $3,320,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CNXC. Algert Global LLC bought a new position in Concentrix during the third quarter valued at about $1,549,000. Mariner LLC increased its stake in Concentrix by 211.5% during the third quarter. Mariner LLC now owns 19,182 shares of the company's stock valued at $1,537,000 after acquiring an additional 13,024 shares during the period. Tower Research Capital LLC TRC increased its stake in Concentrix by 65.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,329 shares of the company's stock valued at $347,000 after acquiring an additional 1,713 shares during the period. Bank of New York Mellon Corp increased its stake in Concentrix by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 448,535 shares of the company's stock valued at $35,932,000 after acquiring an additional 13,914 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Concentrix by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,329,347 shares of the company's stock valued at $346,824,000 after purchasing an additional 71,069 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Concentrix Price Performance

Shares of CNXC traded down $0.98 on Friday, hitting $59.22. The company's stock had a trading volume of 656,629 shares, compared to its average volume of 715,755. The company has a market capitalization of $3.91 billion, a PE ratio of 12.21, a PEG ratio of 0.68 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. Concentrix Co. has a fifty-two week low of $56.81 and a fifty-two week high of $113.04. The company has a 50 day moving average price of $70.37 and a 200 day moving average price of $82.65.

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

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.303 per share. This is an increase 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 annualized dividend and a yield of 2.05%. Concentrix's dividend payout ratio is currently 24.95%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CNXC shares. Bank of America reiterated an "underperform" rating and issued a $60.00 price objective (down from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Barrington Research lowered their price objective on Concentrix from $121.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $82.25.

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.