Bleakley Financial Group LLC Acquires 1,287 Shares of Concentrix Co. (NASDAQ:CNXC)

Bleakley Financial Group LLC raised its holdings in Concentrix Co. (NASDAQ:CNXC) by 42.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,343 shares of the company’s stock after acquiring an additional 1,287 shares during the period. Bleakley Financial Group LLC’s holdings in Concentrix were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNXC. Quarry LP bought a new position in Concentrix in the first quarter valued at about $26,000. Headlands Technologies LLC bought a new position in Concentrix in the third quarter valued at about $65,000. Ronald Blue Trust Inc. grew its position in Concentrix by 382.1% in the third quarter. Ronald Blue Trust Inc. now owns 887 shares of the company’s stock valued at $72,000 after acquiring an additional 703 shares during the last quarter. State of Wyoming grew its position in Concentrix by 388.1% in the second quarter. State of Wyoming now owns 1,064 shares of the company’s stock valued at $86,000 after acquiring an additional 846 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its position in Concentrix by 134.9% in the third quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the company’s stock valued at $105,000 after acquiring an additional 754 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

Shares of CNXC stock opened at $59.22 on Monday. The business’s 50-day moving average price is $70.37 and its 200-day moving average price is $82.65. Concentrix Co. has a 12 month low of $56.81 and a 12 month high of $113.04. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 0.68 and a beta of 0.48. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.15. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. Equities research analysts forecast that Concentrix Co. will post 11.03 EPS for the current year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be paid a $0.303 dividend. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Thursday, April 25th. Concentrix’s payout ratio is currently 24.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNXC. Barrington Research cut their price target on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th. Bank of America reissued an “underperform” rating and set a $60.00 price target (down from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $82.25.

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.