LPL Financial LLC Acquires Shares of 29,539 Concentrix Co. (NASDAQ:CNXC)

LPL Financial LLC bought a new position in Concentrix Co. (NASDAQ:CNXC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 29,539 shares of the company’s stock, valued at approximately $1,278,000.

Other large investors have also recently modified their holdings of the company. Nordea Investment Management AB boosted its stake in Concentrix by 43.9% during the fourth quarter. Nordea Investment Management AB now owns 70,654 shares of the company’s stock worth $3,076,000 after buying an additional 21,568 shares during the period. Thompson Investment Management Inc. boosted its stake in shares of Concentrix by 1,232.8% during the 4th quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company’s stock worth $6,076,000 after purchasing an additional 129,876 shares during the period. Raymond James Financial Inc. bought a new position in Concentrix during the 4th quarter valued at about $4,752,000. American Century Companies Inc. purchased a new stake in Concentrix in the 4th quarter worth about $539,000. Finally, Y Intercept Hong Kong Ltd bought a new stake in Concentrix in the fourth quarter worth about $294,000. Institutional investors own 90.34% of the company’s stock.

Concentrix Price Performance

CNXC opened at $47.33 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The business’s fifty day simple moving average is $47.54 and its 200-day simple moving average is $46.36. The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.63 and a beta of 0.51. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating 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 business had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the firm posted $2.57 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities research analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.81%. Concentrix’s dividend payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

CNXC has been the topic of a number of analyst reports. Bank of America upped their target price on Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. Canaccord Genuity Group reduced their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Finally, Barrington Research lowered their target price on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Concentrix currently has a consensus rating of “Buy” and a consensus price target of $69.60.

Insider Buying and Selling at Concentrix

In other Concentrix news, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now owns 1,155,862 shares in the company, valued at $56,082,424.24. The trade was a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Hayley purchased 500 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average cost of $50.22 per share, with a total value of $25,110.00. Following the completion of the transaction, the director now owns 3,034 shares of the company’s stock, valued at approximately $152,367.48. The trade was a 19.73 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 30,444 shares of company stock valued at $1,484,078. 3.20% of the stock is currently owned by corporate insiders.

Concentrix 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.