Concentrix Co. (NASDAQ:CNXC) Shares Bought by Simplicity Solutions LLC

Simplicity Solutions LLC grew its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 42.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,343 shares of the company’s stock after purchasing an additional 1,287 shares during the quarter. Simplicity Solutions LLC’s holdings in Concentrix were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Shaker Investments LLC OH acquired a new stake in Concentrix during the fourth quarter worth approximately $3,071,000. Sapient Capital LLC acquired a new stake in Concentrix during the fourth quarter worth approximately $324,000. Mutual of America Capital Management LLC raised its holdings in Concentrix by 3.9% during the fourth quarter. Mutual of America Capital Management LLC now owns 29,171 shares of the company’s stock worth $2,865,000 after purchasing an additional 1,084 shares in the last quarter. Bleakley Financial Group LLC raised its holdings in Concentrix by 42.1% during the fourth quarter. Bleakley Financial Group LLC now owns 4,343 shares of the company’s stock worth $427,000 after purchasing an additional 1,287 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its holdings in Concentrix by 482.5% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 50,245 shares of the company’s stock worth $4,910,000 after purchasing an additional 41,619 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Performance

Shares of Concentrix stock opened at $54.75 on Friday. The firm’s fifty day simple moving average is $68.08 and its 200-day simple moving average is $81.96. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.63 and a beta of 0.48. Concentrix Co. has a 12 month low of $54.29 and a 12 month high of $110.49. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.56.

Concentrix (NASDAQ:CNXC) last announced its 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 business 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, equities analysts forecast that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be paid a $0.303 dividend. This is a boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s payout ratio is currently 24.95%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CNXC. Barrington Research cut their price objective 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. Bank of America reaffirmed an “underperform” rating and issued a $60.00 target price (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Concentrix currently 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.