Louisiana State Employees Retirement System Buys New Holdings in Concentrix Co. (NASDAQ:CNXC)

Louisiana State Employees Retirement System acquired a new stake in shares of Concentrix Co. (NASDAQ:CNXC) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 13,300 shares of the company’s stock, valued at approximately $1,306,000.

Other large investors have also made changes to their positions in the company. Algert Global LLC purchased a new stake in Concentrix in the third quarter valued at $1,549,000. Copeland Capital Management LLC purchased a new position in shares of Concentrix during the 4th quarter valued at approximately $40,339,000. Blue Trust Inc. grew its stake in Concentrix by 29.8% in the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after acquiring an additional 264 shares during the period. Mariner LLC lifted its stake in Concentrix by 211.5% in 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 in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in Concentrix by 65.5% in 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 in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Stock Up 0.8 %

Shares of NASDAQ:CNXC opened at $55.19 on Monday. The firm’s 50-day moving average is $67.50 and its two-hundred day moving average is $81.82. 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 Co. has a 1 year low of $54.22 and a 1 year high of $110.49. The firm has a market capitalization of $3.64 billion, a PE ratio of 11.38, a price-to-earnings-growth ratio of 0.63 and a beta of 0.48.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The business had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. Analysts predict 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. Stockholders of record on Friday, April 26th will be given a dividend of $0.303 per share. The ex-dividend date is Thursday, April 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.20%. Concentrix’s payout ratio is currently 24.95%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CNXC shares. Bank of America reissued an “underperform” rating and set a $60.00 target price (down previously from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Barrington Research reduced their price objective on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.