Neuberger Berman Group LLC Purchases 16,479 Shares of Concentrix Co. (NASDAQ:CNXC)

Neuberger Berman Group LLC lifted its position in Concentrix Co. (NASDAQ:CNXC) by 42.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,327 shares of the company’s stock after acquiring an additional 16,479 shares during the quarter. Neuberger Berman Group LLC owned 0.09% of Concentrix worth $2,394,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CNXC. Pzena Investment Management LLC raised its position in Concentrix by 60.0% in the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company’s stock worth $101,667,000 after purchasing an additional 880,960 shares during the period. Norges Bank purchased a new stake in shares of Concentrix in the fourth quarter worth approximately $15,315,000. Copeland Capital Management LLC raised its holdings in shares of Concentrix by 32.9% in the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company’s stock worth $57,688,000 after buying an additional 329,831 shares during the period. Invesco Ltd. lifted its stake in shares of Concentrix by 138.6% during the 4th quarter. Invesco Ltd. now owns 402,457 shares of the company’s stock worth $17,414,000 after acquiring an additional 233,765 shares during the last quarter. Finally, Boston Partners boosted its holdings in 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 period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the sale, the executive vice president now directly owns 39,130 shares in the company, valued at approximately $2,164,280.30. This trade represents a 1.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Concentrix Stock Up 2.5 %

NASDAQ:CNXC opened at $48.82 on Friday. 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 firm has a market cap of $3.12 billion, a PE ratio of 13.16, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The company has a 50-day moving average of $47.54 and a 200 day moving average of $46.45. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00.

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

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be issued a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.73%. Concentrix’s dividend payout ratio is presently 33.33%.

Wall Street Analysts Forecast Growth

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