Loomis Sayles & Co. L P Purchases 148,281 Shares of Concentrix Co. (NASDAQ:CNXC)

Loomis Sayles & Co. L P boosted its position in Concentrix Co. (NASDAQ:CNXC) by 48.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 453,773 shares of the company’s stock after buying an additional 148,281 shares during the quarter. Loomis Sayles & Co. L P owned approximately 0.70% of Concentrix worth $19,634,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in CNXC. Steward Partners Investment Advisory LLC raised its stake in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC increased its stake in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after purchasing an additional 490 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after purchasing an additional 444 shares during the period. KBC Group NV lifted its stake in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after buying an additional 815 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Concentrix in the 3rd quarter worth approximately $146,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Insider Transactions at Concentrix

In related news, Director Kathryn Hayley acquired 500 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The stock was bought at an average cost of $50.22 per share, with a total value of $25,110.00. Following the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.20% of the company’s stock.

Concentrix Trading Down 12.4 %

Shares of CNXC stock opened at $56.95 on Friday. The company has a market capitalization of $3.66 billion, a PE ratio of 15.35, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The business’s fifty day moving average is $48.06 and its 200 day moving average is $47.75. 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 released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion for the quarter, compared to analysts’ expectations of $2.37 billion. During the same quarter last year, the firm posted $2.57 EPS. The company’s revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a $0.3328 dividend. 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 2.34%. Concentrix’s dividend payout ratio is presently 35.85%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CNXC shares. Bank of America increased their target price on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday. Canaccord Genuity Group dropped their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Barrington Research reduced their target price on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 24th. One 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 company. According to data from MarketBeat.com, Concentrix currently has an average rating of “Buy” and an average target price of $69.60.

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.