Russell Investments Group Ltd. Sells 17,865 Shares of Concentrix Co. (NASDAQ:CNXC)

Russell Investments Group Ltd. reduced its holdings in Concentrix Co. (NASDAQ:CNXC - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 201,253 shares of the company's stock after selling 17,865 shares during the quarter. Russell Investments Group Ltd. owned about 0.31% of Concentrix worth $8,708,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in CNXC. Steward Partners Investment Advisory LLC increased its position in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC raised its stake in Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after purchasing an additional 490 shares during the last quarter. Parkside Financial Bank & Trust grew its position in Concentrix by 58.7% in 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 during the last quarter. KBC Group NV increased its holdings in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after purchasing an additional 815 shares during the period. Finally, SRS Capital Advisors Inc. raised its position in shares of Concentrix by 665.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company's stock valued at $180,000 after buying an additional 3,624 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CNXC shares. Barrington Research cut their price target on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Canaccord Genuity Group decreased their price target 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. Finally, Bank of America raised their price objective on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Concentrix presently has an average rating of "Buy" and a consensus target price of $69.60.

Concentrix Price Performance

Shares of CNXC traded down $0.12 during trading hours on Friday, hitting $47.33. The stock had a trading volume of 564,548 shares, compared to its average volume of 694,844. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 12.76, 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 current ratio of 1.42 and a quick ratio of 1.42. The company's fifty day moving average is $47.56 and its two-hundred day moving average is $46.39. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company's revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $2.57 earnings per share. On average, analysts anticipate that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's payout ratio is presently 33.33%.

Insider Activity at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn Hayley purchased 500 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was bought at an average cost of $50.22 per share, with a total value of $25,110.00. Following the acquisition, the director now owns 3,034 shares of the company's stock, valued at $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 30,444 shares of company stock valued at $1,484,078 over the last ninety days. 3.20% of the stock is owned by insiders.

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.