Concentrix Co. (NASDAQ:CNXC) Shares Purchased by Bessemer Group Inc.

Bessemer Group Inc. lifted its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 41.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,303 shares of the company’s stock after acquiring an additional 2,130 shares during the period. Bessemer Group Inc.’s holdings in Concentrix were worth $316,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of CNXC. Steward Partners Investment Advisory LLC raised its stake in Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after purchasing an additional 286 shares during the period. Venturi Wealth Management LLC increased its stake 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 acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after purchasing an additional 444 shares during the period. KBC Group NV lifted its stake in shares of Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after purchasing an additional 815 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Concentrix by 665.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company’s stock worth $180,000 after purchasing an additional 3,624 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Stock Performance

Concentrix stock opened at $47.45 on Thursday. The stock has a market cap of $3.03 billion, a P/E ratio of 12.79, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The stock has a 50 day moving average of $47.56 and a 200-day moving average of $46.42.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the company earned $2.57 earnings per share. Concentrix’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a dividend of $0.3328 per share. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.81%. Concentrix’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CNXC shares. Barrington Research decreased their price objective 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. Canaccord Genuity Group cut their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Finally, Bank of America upped their target price on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. One research 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. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $69.60.

Insider Buying and Selling at Concentrix

In related news, Director Kathryn Hayley purchased 500 shares of the business’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average price of $50.22 per share, with a total value of $25,110.00. Following the acquisition, the director now owns 3,034 shares in the company, valued at approximately $152,367.48. This trade represents a 19.73 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.20% of the stock is currently owned by 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.