Handelsbanken Fonder AB Has $805,000 Position in Concentrix Co. (NASDAQ:CNXC)

Handelsbanken Fonder AB grew its position in shares of Concentrix Co. (NASDAQ:CNXC) by 30.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,200 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Concentrix were worth $805,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CNXC. FMR LLC boosted its position in Concentrix by 0.8% during the 3rd quarter. FMR LLC now owns 7,366,776 shares of the company’s stock worth $590,152,000 after buying an additional 57,849 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Concentrix by 1.7% during the third quarter. Vanguard Group Inc. now owns 4,329,347 shares of the company’s stock worth $346,824,000 after purchasing an additional 71,069 shares during the period. Impactive Capital LP grew its stake in shares of Concentrix by 30.2% in the third quarter. Impactive Capital LP now owns 3,255,172 shares of the company’s stock worth $260,772,000 after purchasing an additional 754,566 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its holdings in Concentrix by 470.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 969,707 shares of the company’s stock valued at $77,683,000 after purchasing an additional 799,625 shares during the period. Finally, AQR Capital Management LLC raised its position in Concentrix by 161.3% during the 3rd quarter. AQR Capital Management LLC now owns 794,300 shares of the company’s stock worth $63,488,000 after purchasing an additional 490,361 shares during the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell acquired 900 shares of Concentrix stock in a transaction on Friday, April 19th. The stock was purchased at an average price of $54.59 per share, with a total value of $49,131.00. Following the completion of the purchase, the chief executive officer now owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders bought 1,679 shares of company stock valued at $98,546 in the last three months. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CNXC. Scotiabank decreased their price target on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research note on Monday. Barrington Research reduced 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. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Concentrix currently has a consensus rating of “Hold” and an average target price of $74.75.

Concentrix Stock Up 2.0 %

Shares of Concentrix stock opened at $56.13 on Tuesday. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 0.63 and a beta of 0.48. The stock’s 50-day moving average is $64.26 and its 200 day moving average is $80.78. 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 one year low of $54.16 and a one year high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 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 for the quarter, compared to analyst estimates of $2.38 billion. Equities research analysts anticipate that Concentrix Co. will post 11.03 EPS for the current year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be paid a $0.303 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 2.16%. Concentrix’s dividend payout ratio (DPR) is currently 24.95%.

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.