Tocqueville Asset Management L.P. Sells 111,100 Shares of Concentrix Co. (NASDAQ:CNXC)

Tocqueville Asset Management L.P. lowered its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 85.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,600 shares of the company's stock after selling 111,100 shares during the quarter. Tocqueville Asset Management L.P.'s holdings in Concentrix were worth $805,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in shares of Concentrix by 32.1% in the 3rd quarter. Victory Capital Management Inc. now owns 28,773 shares of the company's stock valued at $1,475,000 after acquiring an additional 6,990 shares in the last quarter. Quest Partners LLC bought a new position in Concentrix in the third quarter valued at approximately $146,000. Intech Investment Management LLC acquired a new position in shares of Concentrix during the 3rd quarter worth approximately $1,255,000. Cerity Partners LLC boosted its holdings in shares of Concentrix by 92.6% in the 3rd quarter. Cerity Partners LLC now owns 11,778 shares of the company's stock valued at $604,000 after buying an additional 5,663 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in shares of Concentrix by 8.1% in the third quarter. Loomis Sayles & Co. L P now owns 305,492 shares of the company's stock valued at $15,657,000 after buying an additional 22,815 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Concentrix

In other Concentrix news, Director Kathryn Hayley bought 500 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were acquired at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.20% of the company's stock.

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Concentrix Price Performance

Concentrix stock traded up $0.07 during trading hours on Monday, reaching $45.00. 753,567 shares of the stock were exchanged, compared to its average volume of 631,162. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a market cap of $2.90 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The stock has a 50 day moving average of $47.67 and a two-hundred day moving average of $48.14.

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

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were paid a $0.3328 dividend. 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%.

Analysts Set New Price Targets

Several research firms have issued reports on CNXC. Barrington Research dropped their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday. Canaccord Genuity Group lowered their price target on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. One 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 company's stock. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $71.80.

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.