Concentrix Co. (NASDAQ:CNXC) Shares Bought by Bragg Financial Advisors Inc

Bragg Financial Advisors Inc boosted its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 8.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 220,926 shares of the company's stock after acquiring an additional 17,485 shares during the period. Bragg Financial Advisors Inc owned 0.34% of Concentrix worth $9,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sterling Capital Management LLC lifted its holdings in shares of Concentrix by 49.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock worth $122,000 after purchasing an additional 935 shares during the period. Covestor Ltd lifted its stake in shares of Concentrix by 18.7% in the 4th quarter. Covestor Ltd now owns 16,090 shares of the company's stock worth $697,000 after acquiring an additional 2,536 shares during the period. Neuberger Berman Group LLC boosted its holdings in shares of Concentrix by 42.4% in the fourth quarter. Neuberger Berman Group LLC now owns 55,327 shares of the company's stock valued at $2,394,000 after acquiring an additional 16,479 shares in the last quarter. Scotia Capital Inc. increased its stake in shares of Concentrix by 28.6% during the fourth quarter. Scotia Capital Inc. now owns 26,548 shares of the company's stock worth $1,149,000 after acquiring an additional 5,912 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Concentrix by 41.2% during the fourth quarter. Bessemer Group Inc. now owns 7,303 shares of the company's stock worth $316,000 after purchasing an additional 2,130 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Price Performance

CNXC stock traded down $0.12 during midday trading on Friday, hitting $47.33. 564,548 shares of the stock were exchanged, compared to its average volume of 694,844. 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 stock has a market cap of $3.02 billion, a price-to-earnings ratio of 12.76, a PEG ratio of 0.63 and a beta of 0.51. 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 price is $47.56 and its 200-day moving average price is $46.39.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. During the same period in the prior year, the company earned $2.57 EPS. The firm's revenue was down 1.3% on a year-over-year basis. Research analysts predict that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

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

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares of the company's stock, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Olivier Duha sold 29,444 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now directly owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,444 shares of company stock worth $1,484,078 over the last ninety days. 3.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CNXC. Bank of America boosted their target price on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Canaccord Genuity Group dropped their price objective on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, Barrington Research reduced their target price 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, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently 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.