Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC increased its position in Concentrix Co. (NASDAQ:CNXC) by 3.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 29,171 shares of the company’s stock after purchasing an additional 1,084 shares during the period. Mutual of America Capital Management LLC’s holdings in Concentrix were worth $2,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Algert Global LLC acquired a new stake in shares of Concentrix during the 3rd quarter valued at $1,549,000. Copeland Capital Management LLC acquired a new stake in shares of Concentrix during the 4th quarter valued at $40,339,000. Blue Trust Inc. boosted its stake in shares of Concentrix by 29.8% during the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after buying an additional 264 shares during the period. Mariner LLC boosted its stake in shares of Concentrix by 211.5% during the 3rd quarter. Mariner LLC now owns 19,182 shares of the company’s stock valued at $1,537,000 after buying an additional 13,024 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Concentrix by 65.5% during the 3rd quarter. Tower Research Capital LLC TRC now owns 4,329 shares of the company’s stock valued at $347,000 after buying an additional 1,713 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CNXC shares. Bank of America restated an “underperform” rating and set a $60.00 price target (down previously from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Barrington Research dropped their target price on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. One equities 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 stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $82.25.

Concentrix Price Performance

Shares of Concentrix stock opened at $54.75 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.56 and a current ratio of 1.56. The firm’s 50-day simple moving average is $68.08 and its 200-day simple moving average is $81.96. Concentrix Co. has a twelve month low of $54.29 and a twelve month high of $110.49. The firm has a market cap of $3.61 billion, a P/E ratio of 11.29, a price-to-earnings-growth ratio of 0.66 and a beta of 0.48.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The firm had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. As a group, research analysts expect that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be given a $0.303 dividend. The ex-dividend date of this dividend is Thursday, April 25th. 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 yield of 2.21%. Concentrix’s payout ratio is 24.95%.

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.