Fuller & Thaler Asset Management Inc. Has $129 Million Holdings in Concentrix Co. (NASDAQ:CNXC)

Fuller & Thaler Asset Management Inc. grew its stake in Concentrix Co. (NASDAQ:CNXC) by 38.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,981,227 shares of the company’s stock after purchasing an additional 823,228 shares during the period. Fuller & Thaler Asset Management Inc. owned about 4.63% of Concentrix worth $128,998,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CNXC. Steward Partners Investment Advisory LLC boosted 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 buying an additional 286 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Concentrix by 159.6% during the 4th 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 period. Parkside Financial Bank & Trust lifted its holdings 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 worth $52,000 after acquiring an additional 444 shares during the period. KBC Group NV boosted its position 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 acquiring an additional 815 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Concentrix by 49.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company’s stock valued at $122,000 after acquiring an additional 935 shares during the period. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Up 2.0 %

Shares of CNXC opened at $47.82 on Wednesday. The company has a market capitalization of $3.05 billion, a P/E ratio of 12.89, a PEG ratio of 0.63 and a beta of 0.51. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The business’s 50 day simple moving average is $47.51 and its 200-day simple moving average is $46.25. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.

Concentrix (NASDAQ:CNXC) last posted 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 for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business’s 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 fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be given 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 2.78%. Concentrix’s payout ratio is 33.33%.

Insider Activity

In other news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares in the company, valued at $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Olivier Duha sold 29,444 shares of the firm’s stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total value of $1,428,622.88. Following the completion of the transaction, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,444 shares of company stock valued at $1,484,078 over the last three months. 3.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CNXC. Canaccord Genuity Group decreased 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. Barrington Research decreased their price target on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Finally, Bank of America increased their price objective on 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 assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Concentrix has an average rating of “Buy” and a consensus 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.