Concentrix Co. (NASDAQ:CNXC) Stock Position Lifted by Gotham Asset Management LLC

Gotham Asset Management LLC lifted its holdings in Concentrix Co. (NASDAQ:CNXC) by 2,087.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 251,900 shares of the company’s stock after purchasing an additional 240,383 shares during the quarter. Gotham Asset Management LLC owned 0.39% of Concentrix worth $10,900,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in CNXC. 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. Rhumbline Advisers boosted its position in shares of Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after purchasing an additional 324 shares during the period. Parkside Financial Bank & Trust boosted its position 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 valued at $52,000 after purchasing an additional 444 shares during the period. Xponance Inc. boosted its position in shares of Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock valued at $240,000 after purchasing an additional 455 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in shares of Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after purchasing an additional 490 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNXC has been the subject of a number of recent analyst reports. Bank of America increased their price target on Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Canaccord Genuity Group decreased 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. Finally, 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. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $65.75.

Insider Activity

In related 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 value of $25,350.00. Following the completion of the sale, the executive vice president now owns 38,630 shares of the company’s stock, valued at approximately $1,958,541. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Olivier Duha sold 29,444 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly owns 1,155,862 shares of the company’s stock, valued at approximately $56,082,424.24. The trade was a 2.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,444 shares of company stock worth $1,481,628 in the last ninety days. Corporate insiders own 3.20% of the company’s stock.

Concentrix Trading Up 2.5%

NASDAQ:CNXC opened at $53.33 on Monday. 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 Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. The stock’s 50-day moving average is $48.79 and its two-hundred day moving average is $46.49. The stock has a market cap of $3.41 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52.

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

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.50%. The ex-dividend date was Friday, April 25th. Concentrix’s dividend payout ratio is currently 33.33%.

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.