Schonfeld Strategic Advisors LLC Grows Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Schonfeld Strategic Advisors LLC lifted its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 221.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 39,265 shares of the company's stock after buying an additional 27,055 shares during the period. Schonfeld Strategic Advisors LLC owned approximately 0.06% of Concentrix worth $1,699,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. increased its position in shares of Concentrix by 38.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock worth $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Pzena Investment Management LLC increased its position in Concentrix by 60.0% during the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after buying an additional 880,960 shares in the last quarter. Copeland Capital Management LLC raised its stake 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 buying an additional 329,831 shares during the last quarter. Lyrical Asset Management LP grew its stake in shares of Concentrix by 3.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock worth $54,451,000 after acquiring an additional 41,540 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Concentrix by 34.0% during the fourth quarter. First Trust Advisors LP now owns 649,755 shares of the company's stock valued at $28,115,000 after acquiring an additional 164,906 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Analysts Set New Price Targets

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

Concentrix Stock Down 1.4 %

CNXC stock opened at $50.37 on Tuesday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The firm's fifty day simple moving average is $48.19 and its 200-day simple moving average is $46.32. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a market capitalization of $3.22 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping 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 business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the prior year, the firm posted $2.57 EPS. The business's quarterly revenue was down 1.3% compared to the same quarter last year. As a group, equities research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be given a $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.64%. Concentrix's dividend payout ratio (DPR) is currently 33.33%.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total transaction of $25,350.00. Following the transaction, the executive vice president now owns 38,630 shares in the company, valued at approximately $1,958,541. This represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the business's stock in a transaction dated Monday, April 21st. The stock was acquired at an average price of $46.00 per share, with a total value of $46,000.00. Following the completion of the transaction, the chief executive officer now directly owns 303,362 shares of the company's stock, valued at approximately $13,954,652. This represents a 0.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 30,444 shares of company stock valued at $1,481,628 in the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.