Raymond James Financial Services Advisors Inc. Increases Position in Concentrix Co. (NASDAQ:CNXC)

Raymond James Financial Services Advisors Inc. increased its stake in Concentrix Co. (NASDAQ:CNXC) by 26.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 6,179 shares of the company’s stock after acquiring an additional 1,304 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Concentrix were worth $607,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in CNXC. Quarry LP purchased a new position in Concentrix during the 1st quarter valued at about $26,000. Headlands Technologies LLC purchased a new position in Concentrix during the 3rd quarter valued at about $65,000. Ronald Blue Trust Inc. increased its holdings in Concentrix by 382.1% during the 3rd quarter. Ronald Blue Trust Inc. now owns 887 shares of the company’s stock valued at $72,000 after acquiring an additional 703 shares in the last quarter. State of Wyoming increased its holdings in Concentrix by 388.1% during the 2nd quarter. State of Wyoming now owns 1,064 shares of the company’s stock valued at $86,000 after acquiring an additional 846 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Concentrix by 134.9% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Concentrix Price Performance

CNXC opened at $54.75 on Friday. The company’s 50 day simple moving average is $68.08 and its 200 day simple moving average is $81.96. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.56 and a current ratio of 1.56. Concentrix Co. has a 1 year low of $54.29 and a 1 year high of $110.49. The stock has a market capitalization of $3.61 billion, a PE ratio of 11.29, a P/E/G ratio of 0.66 and a beta of 0.48.

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

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Investors 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 boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 2.21%. Concentrix’s dividend payout ratio (DPR) is currently 24.95%.

Analysts Set New Price Targets

Several research firms have issued reports on CNXC. Barrington Research decreased their price target on shares of 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 reaffirmed 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 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. According to data from MarketBeat, Concentrix has an average 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.