Concentrix Co. (NASDAQ:CNXC) Shares Bought by Boston Partners

Boston Partners boosted its stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 51.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 533,144 shares of the company's stock after purchasing an additional 180,581 shares during the period. Boston Partners owned approximately 0.83% of Concentrix worth $23,576,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CNXC. Steward Partners Investment Advisory LLC increased its position in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares in the last quarter. Rhumbline Advisers increased its position in shares of Concentrix by 0.3% in the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock worth $5,565,000 after acquiring an additional 324 shares in the last quarter. Parkside Financial Bank & Trust raised its stake 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 acquiring an additional 444 shares during the period. 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 valued at $34,000 after acquiring an additional 490 shares in the last quarter. Finally, KBC Group NV boosted its position in 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 purchasing an additional 815 shares during the period. Institutional investors and hedge funds own 90.34% of the company's stock.

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Analyst Ratings Changes

CNXC has been the topic of several research reports. Barrington Research cut their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday. 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 report on Thursday, January 16th. One research 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 company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $71.80.

Insider Activity at Concentrix

In related news, Director Kathryn Hayley acquired 500 shares of the firm's stock in a transaction on Wednesday, January 22nd. The stock was bought at an average cost of $50.22 per share, with a total value of $25,110.00. Following the acquisition, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is currently owned by corporate insiders.

Concentrix Stock Up 0.4 %

CNXC stock traded up $0.18 during trading on Tuesday, reaching $45.18. The stock had a trading volume of 689,517 shares, compared to its average volume of 631,157. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm has a fifty day moving average price of $47.64 and a 200 day moving average price of $47.94. The company has a market capitalization of $2.91 billion, a P/E ratio of 12.18, a PEG ratio of 0.63 and a beta of 0.69. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $3.01 by $0.25. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business had revenue of $2.45 billion for the quarter, compared to analysts' expectations of $2.44 billion. During the same quarter in the previous year, the firm posted $3.36 earnings per share. The company's revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were paid a $0.3328 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.95%. Concentrix's dividend payout ratio (DPR) is presently 35.85%.

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.