Pzena Investment Management LLC Has $121.71 Million Holdings in Concentrix Corporation $CNXC

Pzena Investment Management LLC boosted its holdings in Concentrix Corporation (NASDAQ:CNXC) by 32.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,927,196 shares of the company’s stock after buying an additional 714,604 shares during the quarter. Pzena Investment Management LLC’s holdings in Concentrix were worth $121,713,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CNXC. Royal Bank of Canada boosted its stake in Concentrix by 9.5% in the first quarter. Royal Bank of Canada now owns 47,501 shares of the company’s stock valued at $2,643,000 after buying an additional 4,133 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Concentrix by 75.1% in the first quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company’s stock valued at $23,552,000 after buying an additional 181,546 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Concentrix by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company’s stock valued at $8,152,000 after buying an additional 21,746 shares in the last quarter. Focus Partners Wealth acquired a new stake in Concentrix in the first quarter valued at about $781,000. Finally, Geneos Wealth Management Inc. boosted its stake in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after buying an additional 522 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNXC has been the topic of several research analyst reports. Robert W. Baird reduced their price objective on Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Canaccord Genuity Group reduced their price objective on Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Barrington Research cut their price target on Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Wall Street Zen lowered Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a research note on Monday, April 27th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Concentrix presently has an average rating of “Hold” and a consensus price target of $48.50.

Concentrix Price Performance

Shares of CNXC opened at $25.88 on Friday. Concentrix Corporation has a 1 year low of $22.05 and a 1 year high of $62.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -1.20, a price-to-earnings-growth ratio of 0.31 and a beta of 0.37. The business has a 50-day moving average of $27.29 and a 200-day moving average of $33.92.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.04). Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the business earned $2.79 earnings per share. Concentrix’s revenue was up 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Concentrix Corporation will post 10.42 earnings per share for the current year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, April 24th. Concentrix’s dividend payout ratio (DPR) is -6.68%.

Insider Transactions at Concentrix

In related news, CFO Andre S. Valentine acquired 2,500 shares of the stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the transaction, the chief financial officer directly owned 89,066 shares of the company’s stock, valued at $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total value of $133,500,000.00. Following the transaction, the insider owned 2,773,667 shares of the company’s stock, valued at $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.90% of the stock is owned by company insiders.

Concentrix Company Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.