Concentrix Co. (NASDAQ:CNXC) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. lessened its position in shares of Concentrix Co. (NASDAQ:CNXC) by 3.9% in the 4th quarter, HoldingsChannel reports. The fund owned 5,851 shares of the company’s stock after selling 237 shares during the period. Federated Hermes Inc.’s holdings in Concentrix were worth $575,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Headlands Technologies LLC purchased a new position in shares of Concentrix in the 3rd quarter valued at about $65,000. EverSource Wealth Advisors LLC increased its stake in Concentrix by 134.9% in the third quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the company’s stock valued at $105,000 after purchasing an additional 754 shares during the last quarter. Blue Trust Inc. raised its holdings in Concentrix by 29.8% during the fourth quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $113,000 after purchasing an additional 264 shares in the last quarter. Covestor Ltd lifted its position in shares of Concentrix by 163.3% during the 3rd quarter. Covestor Ltd now owns 1,522 shares of the company’s stock worth $122,000 after buying an additional 944 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Concentrix by 9.1% in the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock valued at $145,000 after buying an additional 123 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $59.35 on Friday. Concentrix Co. has a one year low of $53.89 and a one year high of $106.10. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.64 and a beta of 0.55. The company has a 50-day simple moving average of $62.70 and a 200-day simple moving average of $80.27. 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 (NASDAQ:CNXC) last issued its quarterly 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 net margin of 3.53% and a return on equity of 17.70%. The company had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. On average, analysts predict that Concentrix Co. will post 11.03 EPS for the current year.

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be issued 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 annualized dividend and a dividend yield of 2.04%. Concentrix’s dividend payout ratio (DPR) is currently 24.95%.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell acquired 900 shares of the business’s stock in a transaction on Friday, April 19th. The stock was bought at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the transaction, the chief executive officer now owns 239,128 shares in the company, valued at $13,053,997.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 1,679 shares of company stock worth $98,546 in the last three months. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CNXC. Barrington Research cut 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. Scotiabank reduced their target price on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. 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 research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $74.75.

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.