Northern Trust Corp Acquires 85,660 Shares of Concentrix Co. (NASDAQ:CNXC)

Northern Trust Corp raised its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 21.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 492,219 shares of the company's stock after acquiring an additional 85,660 shares during the period. Northern Trust Corp owned about 0.76% of Concentrix worth $21,298,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. raised its holdings in Concentrix by 38.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after acquiring an additional 823,228 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Concentrix by 60.0% in the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after acquiring an additional 880,960 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Concentrix by 32.9% in the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock worth $57,688,000 after buying an additional 329,831 shares in the last quarter. Lyrical Asset Management LP raised its holdings in shares of Concentrix by 3.4% in the 4th quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock worth $54,451,000 after buying an additional 41,540 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Concentrix by 34.0% in the 4th quarter. First Trust Advisors LP now owns 649,755 shares of the company's stock worth $28,115,000 after buying an additional 164,906 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Activity at Concentrix

In related 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 transaction of $1,428,622.88. Following the completion of the transaction, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total value of $25,350.00. Following the transaction, the executive vice president now owns 38,630 shares of the company's stock, valued at $1,958,541. The trade was a 1.28% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,444 shares of company stock valued at $1,481,628. 3.20% of the stock is owned by insiders.

Concentrix Stock Up 2.0%

Shares of CNXC traded up $1.08 during midday trading on Friday, hitting $56.22. The stock had a trading volume of 975,209 shares, compared to its average volume of 708,022. The company has a 50 day simple moving average of $49.78 and a two-hundred day simple moving average of $46.89. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.

Concentrix (NASDAQ:CNXC - Get Free Report) last released 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 return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the business posted $2.57 EPS. The company's revenue for the quarter was down 1.3% on a year-over-year basis. On average, analysts anticipate that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were given a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on CNXC. Bank of America increased their target price on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. Barrington Research dropped their target price on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Concentrix presently has an average rating of "Buy" and a consensus target price of $65.75.

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.