Marshall Wace LLP Buys 401,133 Shares of Concentrix Co. (NASDAQ:CNXC)

Marshall Wace LLP raised its stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 209.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 593,043 shares of the company's stock after purchasing an additional 401,133 shares during the quarter. Marshall Wace LLP owned about 0.92% of Concentrix worth $25,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of Concentrix by 43.9% in the 4th quarter. Nordea Investment Management AB now owns 70,654 shares of the company's stock valued at $3,076,000 after acquiring an additional 21,568 shares during the period. Thompson Investment Management Inc. grew its position in shares of Concentrix by 1,232.8% during the 4th quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company's stock valued at $6,076,000 after acquiring an additional 129,876 shares during the period. Raymond James Financial Inc. acquired a new stake in Concentrix in the 4th quarter worth about $4,752,000. American Century Companies Inc. acquired a new stake in Concentrix in the 4th quarter worth about $539,000. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Concentrix in the 4th quarter worth about $294,000. Hedge funds and other institutional investors own 90.34% of the company's stock.

Concentrix Stock Performance

Shares of Concentrix stock traded up $2.34 on Thursday, reaching $50.45. 197,831 shares of the company were exchanged, compared to its average volume of 695,215. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 13.60, a P/E/G ratio of 0.63 and a beta of 0.51. 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 company's 50-day moving average is $47.51 and its two-hundred day moving average is $46.27.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results 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%. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.57 earnings per share. As a group, research analysts expect that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.64%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's dividend payout ratio (DPR) is 33.33%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Bank of America increased their target price on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Barrington Research cut their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Finally, Canaccord Genuity Group dropped their target price on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $69.60.

Insider Activity at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of Concentrix 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 transaction, the director now directly owns 1,155,862 shares of the company's stock, valued at $56,082,424.24. This trade represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Christopher A. Caldwell bought 1,000 shares of the stock in a transaction on Monday, April 21st. The shares were acquired at an average cost of $46.00 per share, for a total transaction of $46,000.00. Following the purchase, the chief executive officer now owns 303,362 shares in the company, valued at approximately $13,954,652. This represents a 0.33 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 30,444 shares of company stock worth $1,484,078 in the last three months. 3.20% of the stock is owned by company insiders.

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.