Sapient Capital LLC Acquires New Holdings in Concentrix Co. (NASDAQ:CNXC)

Sapient Capital LLC acquired a new stake in shares of Concentrix Co. (NASDAQ:CNXC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,300 shares of the company’s stock, valued at approximately $324,000.

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

Concentrix Trading Down 1.6 %

Shares of CNXC opened at $59.22 on Monday. 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 Co. has a 1-year low of $56.81 and a 1-year high of $113.04. The business’s 50-day moving average price is $70.37 and its 200 day moving average price is $82.65. The stock has a market capitalization of $3.91 billion, a P/E ratio of 12.21, a P/E/G ratio of 0.68 and a beta of 0.48.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 24th. The company reported $3.07 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.15. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The company had revenue of $2.23 billion for the quarter, compared to analysts’ expectations of $2.20 billion. Analysts expect that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 2.05%. The ex-dividend date is Thursday, April 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is 24.95%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barrington Research lowered their target price on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. Bank of America reissued an “underperform” rating and issued a $60.00 price target (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price 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.