Concentrix Co. (NASDAQ:CNXC) Stock Position Cut by Causeway Capital Management LLC

Causeway Capital Management LLC cut its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 5.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 409,812 shares of the company's stock after selling 23,442 shares during the quarter. Causeway Capital Management LLC owned 0.64% of Concentrix worth $17,733,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its holdings in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after buying an additional 286 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust increased its position in 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 purchasing an additional 444 shares in the last quarter. KBC Group NV raised its stake in Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after purchasing an additional 815 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its holdings in Concentrix by 49.7% in the 4th quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock valued at $122,000 after purchasing an additional 935 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of Concentrix 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kathryn Hayley bought 500 shares of the business's stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the acquisition, the director now directly owns 3,034 shares of the company's stock, valued at $152,367.48. The trade was a 19.73 % 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 $1,484,078 over the last ninety days. Corporate insiders own 3.20% of the company's stock.

Concentrix Trading Down 0.3 %

Shares of Concentrix stock traded down $0.12 during trading hours on Friday, hitting $47.33. The company's stock had a trading volume of 564,548 shares, compared to its average volume of 695,816. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $3.02 billion, a PE ratio of 12.76, a P/E/G ratio of 0.63 and a beta of 0.51. The business has a fifty day moving average of $47.54 and a 200 day moving average of $46.36. 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 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. The company had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company earned $2.57 earnings per share. As a group, equities analysts forecast that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.81%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CNXC. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. Barrington Research reduced 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 lifted their price objective on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $69.60.

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.