Concentrix Co. (NASDAQ:CNXC) Stock Position Raised by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. lifted its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 55.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,009,133 shares of the company’s stock after purchasing an additional 359,476 shares during the period. Deprince Race & Zollo Inc. owned approximately 1.57% of Concentrix worth $43,665,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Dimension Capital Management LLC purchased a new position in Concentrix during the 4th quarter worth approximately $1,656,000. Corton Capital Inc. grew its holdings in shares of Concentrix by 72.9% during the fourth quarter. Corton Capital Inc. now owns 6,759 shares of the company’s stock valued at $292,000 after buying an additional 2,849 shares in the last quarter. Crestline Management LP acquired a new position in Concentrix during the fourth quarter valued at $310,000. Brevan Howard Capital Management LP boosted its position in Concentrix by 444.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 44,983 shares of the company’s stock worth $1,946,000 after acquiring an additional 36,723 shares during the period. Finally, Bank of America Corp DE grew its stake in Concentrix by 8.3% during the 4th quarter. Bank of America Corp DE now owns 251,938 shares of the company’s stock valued at $10,901,000 after acquiring an additional 19,255 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Stock Up 0.2 %

CNXC opened at $50.38 on Thursday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 0.63 and a beta of 0.52. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The firm’s 50-day simple moving average is $48.39 and its 200-day simple moving average is $46.38. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) 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 the consensus estimate of $2.37 billion. During the same quarter in the previous year, the company posted $2.57 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. Equities 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 was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were paid a $0.3328 dividend. The ex-dividend date was Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.64%. Concentrix’s dividend payout ratio is 33.33%.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total transaction of $25,350.00. Following the transaction, the executive vice president now owns 38,630 shares of the company’s stock, valued at $1,958,541. The trade was a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the firm’s stock in a transaction on Monday, April 21st. The stock was bought at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the acquisition, the chief executive officer now owns 303,362 shares of the company’s stock, valued at approximately $13,954,652. The trade was a 0.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 30,444 shares of company stock valued at $1,481,628 in the last 90 days. 3.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on CNXC. Bank of America boosted their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Canaccord Genuity Group dropped their target price 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, Barrington Research reduced their price target on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 24th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $65.75.

Concentrix Company 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.