Grantham Mayo Van Otterloo & Co. LLC Grows Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Grantham Mayo Van Otterloo & Co. LLC boosted its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,352 shares of the company’s stock after buying an additional 1,477 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Concentrix were worth $967,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC boosted its position in Concentrix by 159.6% during 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 grew its holdings in 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 last quarter. KBC Group NV grew its holdings in Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after purchasing an additional 815 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in shares of Concentrix by 665.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company’s stock valued at $180,000 after buying an additional 3,624 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Concentrix

In related news, Director Kathryn Hayley bought 500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is owned by company insiders.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $45.73 on Wednesday. The company has a 50-day simple moving average of $47.73 and a 200-day simple moving average of $46.74. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market cap of $2.94 billion, a PE ratio of 12.33, a price-to-earnings-growth 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 released its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. During the same period in the previous year, the company earned $2.57 EPS. Concentrix’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The firm 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. This represents a $1.33 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date is Friday, April 25th. Concentrix’s payout ratio is 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.