Concentrix Co. (NASDAQ:CNXC) Shares Bought by Boston Partners

Boston Partners grew its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 130.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,226 shares of the company's stock after buying an additional 198,790 shares during the quarter. Boston Partners owned 0.53% of Concentrix worth $34,641,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CNXC. First Horizon Advisors Inc. grew its holdings in Concentrix by 381.7% during the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company's stock worth $34,000 after acquiring an additional 271 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Concentrix by 146.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company's stock valued at $62,000 after purchasing an additional 374 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Concentrix in the 3rd quarter valued at $65,000. Blue Trust Inc. boosted its stake in shares of Concentrix by 29.8% in the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company's stock valued at $113,000 after purchasing an additional 264 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Concentrix by 134.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the company's stock valued at $105,000 after purchasing an additional 754 shares during 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 analysts recently issued reports on the stock. Bank of America reiterated an "underperform" rating and set a $60.00 target price (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. Scotiabank dropped their target price on shares of Concentrix from $120.00 to $85.00 and set a "sector outperform" rating on the stock in a research report on Monday, April 29th. Finally, Barrington Research dropped their target price on shares of Concentrix from $121.00 to $84.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Concentrix currently has an average rating of "Hold" and a consensus price target of $74.75.

Concentrix Stock Performance

NASDAQ:CNXC traded up $0.11 on Wednesday, reaching $64.55. 353,193 shares of the company's stock were exchanged, compared to its average volume of 532,144. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $4.26 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 0.72 and a beta of 0.55. Concentrix Co. has a 52 week low of $53.89 and a 52 week high of $106.10. The stock has a fifty day simple moving average of $60.38 and a 200-day simple moving average of $79.39.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. As a group, sell-side analysts predict that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th were given a $0.303 dividend. This is a positive change from Concentrix's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date was Thursday, April 25th. Concentrix's dividend payout ratio (DPR) is 24.95%.

Insider Activity

In other news, CEO Christopher A. Caldwell acquired 900 shares of the business's stock in a transaction dated Friday, April 19th. The stock was bought at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the completion of the transaction, the chief executive officer now owns 239,128 shares of the company's stock, valued at $13,053,997.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last ninety days, insiders bought 1,679 shares of company stock worth $98,546. 3.00% of the stock is 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.