Natixis Makes New Investment in Concentrix Co. (NASDAQ:CNXC)

Natixis bought a new stake in Concentrix Co. (NASDAQ:CNXC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 13,884 shares of the company's stock, valued at approximately $601,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Pzena Investment Management LLC raised its position in Concentrix by 60.0% in the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock worth $101,667,000 after purchasing an additional 880,960 shares during the last quarter. Marshall Wace LLP raised its position in shares of Concentrix by 209.0% during the fourth quarter. Marshall Wace LLP now owns 593,043 shares of the company's stock worth $25,661,000 after acquiring an additional 401,133 shares during the last quarter. Norges Bank acquired a new position in shares of Concentrix during the fourth quarter valued at $15,315,000. Copeland Capital Management LLC boosted its holdings in Concentrix by 32.9% in the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after acquiring an additional 329,831 shares during the last quarter. Finally, Invesco Ltd. increased its position in Concentrix by 138.6% in the fourth quarter. Invesco Ltd. now owns 402,457 shares of the company's stock worth $17,414,000 after purchasing an additional 233,765 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CNXC shares. Barrington Research cut their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Finally, Bank of America upped their target price on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Concentrix has a consensus rating of "Buy" and an average target price of $65.75.

Concentrix Trading Down 0.8 %

Concentrix stock traded down $0.40 during midday trading on Wednesday, hitting $51.06. 585,521 shares of the stock were exchanged, compared to its average volume of 701,820. The stock has a market capitalization of $3.26 billion, a PE ratio of 13.76, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a fifty day simple moving average of $47.90 and a two-hundred day simple moving average of $46.36. 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 Co. has a 52 week low of $36.28 and a 52 week high of $77.00.

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. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the business earned $2.57 EPS. The firm's revenue was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.61%. Concentrix's dividend payout ratio (DPR) is currently 33.33%.

Insider Buying and Selling at Concentrix

In other Concentrix news, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the sale, the director now 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the sale, the executive vice president now owns 39,130 shares in the company, valued at approximately $2,164,280.30. This trade represents a 1.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 3.20% of the company's stock.

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.