Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP increased its position in shares of Concentrix Co. (NASDAQ:CNXC) by 209.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 593,043 shares of the company’s stock after acquiring an additional 401,133 shares during the quarter. Marshall Wace LLP’s holdings in Concentrix were worth $25,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its holdings 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 buying an additional 286 shares in the last quarter. Venturi Wealth Management LLC lifted 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 valued at $34,000 after acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust lifted 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 valued at $52,000 after acquiring an additional 444 shares during the last quarter. KBC Group NV boosted 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 worth $87,000 after acquiring an additional 815 shares in the last quarter. Finally, Sterling Capital Management LLC grew its holdings in shares of Concentrix by 49.7% in the 4th quarter. Sterling Capital Management LLC now owns 2,817 shares of the company’s stock worth $122,000 after acquiring an additional 935 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Concentrix Trading Down 0.3 %

Shares of CNXC stock opened at $47.33 on Friday. The firm has a market capitalization of $3.02 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. The firm’s fifty day simple moving average is $47.54 and its 200 day simple moving average is $46.36. 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 (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter last year, the company earned $2.57 EPS. The company’s quarterly revenue was down 1.3% on a year-over-year basis. As a group, sell-side analysts predict that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.81%. Concentrix’s payout ratio is presently 33.33%.

Analyst Ratings Changes

A number of analysts have commented on CNXC shares. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Barrington Research reduced their price target on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research report on Monday, March 24th. Finally, Bank of America raised their price objective on shares of Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. One 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $69.60.

Insider Activity

In other news, Director Olivier Duha sold 29,444 shares of the business’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now directly owns 1,155,862 shares of the company’s stock, valued at $56,082,424.24. The trade was a 2.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn Hayley purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average price of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 30,444 shares of company stock worth $1,484,078. Corporate insiders own 3.20% of the company’s stock.

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.