Charles Schwab Investment Management Inc. Has $25.24 Million Position in Concentrix Co. (NASDAQ:CNXC)

Charles Schwab Investment Management Inc. lessened its stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 2.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 583,308 shares of the company's stock after selling 17,395 shares during the period. Charles Schwab Investment Management Inc. owned about 0.91% of Concentrix worth $25,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Invenomic Capital Management LP lifted its holdings in shares of Concentrix by 354.3% in the third quarter. Invenomic Capital Management LP now owns 472,243 shares of the company's stock valued at $24,202,000 after purchasing an additional 368,295 shares in the last quarter. Copeland Capital Management LLC lifted its holdings in shares of Concentrix by 32.9% in the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after purchasing an additional 329,831 shares in the last quarter. Thompson Investment Management Inc. lifted its holdings in shares of Concentrix by 1,232.8% in the fourth quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company's stock valued at $6,076,000 after purchasing an additional 129,876 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of Concentrix in the third quarter valued at $2,844,000. Finally, New York State Common Retirement Fund lifted its holdings in shares of Concentrix by 47.3% in the fourth quarter. New York State Common Retirement Fund now owns 144,557 shares of the company's stock valued at $6,255,000 after purchasing an additional 46,406 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

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Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reduced their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Concentrix has a consensus rating of "Buy" and an average price target of $75.00.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the transaction, the executive vice president now directly owns 41,111 shares of the company's stock, valued at $2,285,771.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.20% of the company's stock.

Concentrix Stock Down 0.3 %

Shares of NASDAQ:CNXC traded down $0.13 during midday trading on Friday, hitting $44.93. 1,034,913 shares of the stock were exchanged, compared to its average volume of 629,922. 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 Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The business's fifty day simple moving average is $47.67 and its two-hundred day simple moving average is $48.52. The company has a market capitalization of $2.89 billion, a PE ratio of 12.11, a P/E/G ratio of 0.63 and a beta of 0.69.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share (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 during the quarter, compared to analyst estimates of $2.44 billion. During the same period last year, the company earned $3.36 earnings per share. Concentrix's quarterly revenue was up 9.7% compared to the same quarter last year. As a group, research analysts predict 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. Shareholders of record on Friday, January 31st were given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a yield of 2.96%. The ex-dividend date was Friday, January 31st. Concentrix's payout ratio is 35.85%.

Concentrix 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.