Russell Investments Group Ltd. Sells 2,640 Shares of Concentrix Co. (NASDAQ:CNXC)

Russell Investments Group Ltd. reduced its stake in shares of Concentrix Co. (NASDAQ:CNXC – Get Rating) by 3.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 65,923 shares of the company’s stock after selling 2,640 shares during the period. Russell Investments Group Ltd. owned approximately 0.13% of Concentrix worth $8,778,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ellevest Inc. lifted its holdings in shares of Concentrix by 6,180.0% during the 3rd quarter. Ellevest Inc. now owns 314 shares of the company’s stock worth $35,000 after acquiring an additional 309 shares during the last quarter. CWM LLC lifted its stake in Concentrix by 69.5% in the third quarter. CWM LLC now owns 317 shares of the company’s stock worth $35,000 after purchasing an additional 130 shares during the last quarter. Wipfli Financial Advisors LLC bought a new stake in Concentrix in the third quarter worth $37,000. Parkside Financial Bank & Trust lifted its stake in Concentrix by 73.5% in the third quarter. Parkside Financial Bank & Trust now owns 564 shares of the company’s stock worth $62,000 after purchasing an additional 239 shares during the last quarter. Finally, Ronald Blue Trust Inc. lifted its stake in Concentrix by 117.3% in the fourth quarter. Ronald Blue Trust Inc. now owns 667 shares of the company’s stock worth $75,000 after purchasing an additional 360 shares during the last quarter. 92.31% of the stock is owned by institutional investors.

Concentrix Price Performance

CNXC stock opened at $89.74 on Friday. The firm’s 50-day moving average price is $110.64 and its two-hundred day moving average price is $124.20. Concentrix Co. has a 12-month low of $84.03 and a 12-month high of $163.43. The stock has a market capitalization of $4.67 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.76 and a beta of 0.48. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.79.

Concentrix (NASDAQ:CNXC – Get Rating) last announced its quarterly earnings results on Wednesday, March 29th. The company reported $2.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.40 by ($0.08). Concentrix had a net margin of 6.42% and a return on equity of 20.63%. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. As a group, equities analysts predict that Concentrix Co. will post 10.98 earnings per share for the current year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 9th. Investors of record on Friday, April 28th were given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Thursday, April 27th. Concentrix’s dividend payout ratio is currently 13.98%.

Analyst Ratings Changes

Several analysts have weighed in on CNXC shares. TheStreet downgraded shares of Concentrix from a “c-” rating to a “d+” rating in a research note on Friday, May 5th. Canaccord Genuity Group assumed coverage on shares of Concentrix in a research note on Wednesday, April 12th. They issued a “buy” rating and a $150.00 price target for the company. Bank of America boosted their price objective on shares of Concentrix from $157.00 to $165.00 in a research report on Friday, March 31st. Finally, Barrington Research restated an “outperform” rating and issued a $165.00 price objective on shares of Concentrix in a research report on Monday, March 27th.

About Concentrix

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Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.