Geode Capital Management LLC Sells 2,628 Shares of Concentrix Co. (NASDAQ:CNXC)

Geode Capital Management LLC lessened its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 875,464 shares of the company’s stock after selling 2,628 shares during the quarter. Geode Capital Management LLC owned approximately 1.36% of Concentrix worth $37,892,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its stake in shares of Concentrix by 60.0% in the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company’s stock valued at $101,667,000 after purchasing an additional 880,960 shares during the last quarter. Norges Bank acquired a new stake in shares of Concentrix in the fourth quarter worth about $15,315,000. Copeland Capital Management LLC boosted its stake in shares of Concentrix by 32.9% during the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company’s stock worth $57,688,000 after acquiring an additional 329,831 shares in the last quarter. Boston Partners increased its holdings in shares of Concentrix by 51.2% during the 4th quarter. Boston Partners now owns 533,144 shares of the company’s stock valued at $23,576,000 after acquiring an additional 180,581 shares during the last quarter. Finally, Loomis Sayles & Co. L P raised its stake in shares of Concentrix by 48.5% in the 4th quarter. Loomis Sayles & Co. L P now owns 453,773 shares of the company’s stock valued at $19,634,000 after acquiring an additional 148,281 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction on Monday, March 31st. The stock was sold at an average price of $55.31, for a total value of $27,655.00. Following the transaction, the executive vice president now owns 39,130 shares of the company’s stock, valued at approximately $2,164,280.30. The trade was a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on CNXC shares. Barrington Research lowered their price target on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Bank of America lifted their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. Finally, Canaccord Genuity Group decreased their price target on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $69.60.

Concentrix Trading Down 3.8 %

Shares of CNXC opened at $47.95 on Wednesday. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00. The firm has a market capitalization of $3.06 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 0.63 and a beta of 0.51. The stock’s 50-day moving average price is $47.56 and its 200 day moving average price is $46.41. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period last year, the firm earned $2.57 EPS. The firm’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts predict that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, April 25th. Concentrix’s dividend payout ratio is currently 33.33%.

About Concentrix

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.