Voya Investment Management LLC Decreases Holdings in Concentrix Co. (NASDAQ:CNXC)

Voya Investment Management LLC decreased its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 73.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,745 shares of the company's stock after selling 15,653 shares during the period. Voya Investment Management LLC's holdings in Concentrix were worth $249,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Fuller & Thaler Asset Management Inc. increased its position in 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 buying an additional 823,228 shares during the period. Pzena Investment Management LLC increased its position in Concentrix by 60.0% during the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock worth $101,667,000 after buying an additional 880,960 shares during the period. Copeland Capital Management LLC increased its position in Concentrix by 32.9% during the fourth 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 during the period. Lyrical Asset Management LP increased its position in 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 buying an additional 41,540 shares during the period. Finally, First Trust Advisors LP increased its position in Concentrix by 34.0% during the fourth 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 during the period. Institutional investors and hedge funds own 90.34% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on CNXC. Bank of America lifted their price target on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Barrington Research dropped their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research note on Monday, March 24th. One research 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 company's stock. Based on data from MarketBeat.com, Concentrix currently has an average rating of "Buy" and a consensus target price of $65.75.

Concentrix Stock Performance

CNXC traded up $1.08 during trading on Friday, reaching $56.22. The company's stock had a trading volume of 975,209 shares, compared to its average volume of 708,022. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The company's fifty day moving average price is $49.78 and its 200-day moving average price is $46.89. The company has a market capitalization 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 quick ratio of 1.42 and a current ratio of 1.42.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.57 EPS. On average, equities analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were paid a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Friday, April 25th. Concentrix's dividend payout ratio (DPR) is 33.33%.

Insider Transactions at Concentrix

In related news, CEO Christopher A. Caldwell bought 1,000 shares of Concentrix stock in a transaction that occurred on Monday, April 21st. The shares were purchased at an average price of $46.00 per share, with a total value of $46,000.00. Following the purchase, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. This represents a 0.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on 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 transaction, the executive vice president now owns 39,130 shares of the company's stock, valued at $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 have sold 30,444 shares of company stock valued at $1,481,628 in the last quarter. 3.20% of the stock is currently owned by corporate 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.