Concentrix Co. (NASDAQ:CNXC) Stock Position Lifted by Thompson Investment Management Inc.

Thompson Investment Management Inc. increased its stake in Concentrix Co. (NASDAQ:CNXC - Free Report) by 1,232.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,411 shares of the company's stock after acquiring an additional 129,876 shares during the quarter. Thompson Investment Management Inc. owned 0.22% of Concentrix worth $6,076,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in Concentrix by 1.3% during the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after acquiring an additional 18,304 shares during the period. Nordea Investment Management AB lifted its holdings in Concentrix by 43.9% in the 4th quarter. Nordea Investment Management AB now owns 70,654 shares of the company's stock worth $3,076,000 after buying an additional 21,568 shares during the period. GSA Capital Partners LLP bought a new stake in Concentrix in the third quarter valued at $1,243,000. Raymond James & Associates increased its position in shares of Concentrix by 73.3% during the third quarter. Raymond James & Associates now owns 55,313 shares of the company's stock valued at $2,835,000 after buying an additional 23,387 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Concentrix by 24.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company's stock worth $3,319,000 after acquiring an additional 12,870 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the sale, the executive vice president now owns 41,111 shares of the company's stock, valued at $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last quarter, insiders sold 1,500 shares of company stock worth $72,400. Insiders own 3.10% of the company's stock.

Concentrix Stock Down 0.4 %

CNXC stock traded down $0.21 during trading on Wednesday, reaching $47.71. 728,788 shares of the company traded hands, compared to its average volume of 817,135. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 12.86, a price-to-earnings-growth ratio of 0.66 and a beta of 0.67. The business has a 50 day simple moving average of $46.54 and a 200 day simple moving average of $52.67. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $85.35. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42.

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

Concentrix Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date was Friday, January 31st. Concentrix's payout ratio is 35.85%.

Analysts Set New Price Targets

Separately, 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 investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Concentrix presently has a consensus rating of "Buy" and a consensus target price of $75.00.

About Concentrix

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.