Concentrix Co. (NASDAQ:CNXC) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. lessened its position in Concentrix Co. (NASDAQ:CNXC) by 85.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,600 shares of the company’s stock after selling 111,100 shares during the period. Tocqueville Asset Management L.P.’s holdings in Concentrix were worth $805,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC raised its position in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after buying an additional 490 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after buying an additional 444 shares in the last quarter. KBC Group NV lifted its position in Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares during the period. Finally, Quest Partners LLC acquired a new stake in Concentrix in the third quarter worth approximately $146,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group decreased their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Concentrix presently has a consensus rating of “Buy” and a consensus target price of $75.00.

Insider Activity

In other news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares in the company, valued at $2,285,771.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 3.20% of the company’s stock.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $46.81 on Thursday. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The stock has a fifty day moving average price of $47.70 and a two-hundred day moving average price of $48.75. The firm has a market cap of $3.01 billion, a P/E ratio of 12.62, a PEG ratio of 0.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter in the prior year, the firm earned $3.36 EPS. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. Research analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were given a dividend of $0.3328 per share. The ex-dividend date was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.84%. Concentrix’s dividend payout ratio (DPR) is presently 35.85%.

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.