Loomis Sayles & Co. L P Acquires 22,815 Shares of Concentrix Co. (NASDAQ:CNXC)

Loomis Sayles & Co. L P boosted its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 8.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 305,492 shares of the company's stock after purchasing an additional 22,815 shares during the period. Loomis Sayles & Co. L P owned about 0.47% of Concentrix worth $15,657,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNXC. 1832 Asset Management L.P. bought a new position in shares of Concentrix in the second quarter valued at approximately $62,738,000. Pzena Investment Management LLC raised its stake in shares of Concentrix by 46.6% in the second quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company's stock valued at $93,965,000 after acquiring an additional 471,699 shares during the last quarter. Paradigm Capital Management Inc. NY raised its stake in shares of Concentrix by 126.4% in the second quarter. Paradigm Capital Management Inc. NY now owns 623,542 shares of the company's stock valued at $39,458,000 after acquiring an additional 348,100 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Concentrix by 74.4% in the second quarter. AQR Capital Management LLC now owns 813,864 shares of the company's stock valued at $51,160,000 after acquiring an additional 347,230 shares during the last quarter. Finally, Marshall Wace LLP bought a new position in shares of Concentrix in the second quarter valued at approximately $6,852,000. Institutional investors own 90.34% of the company's stock.

Concentrix Trading Up 0.8 %

CNXC traded up $0.36 during trading on Wednesday, reaching $44.92. 653,190 shares of the company's stock were exchanged, compared to its average volume of 577,291. The company's fifty day moving average price is $47.23 and its 200-day moving average price is $59.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $106.10. The firm has a market capitalization of $2.91 billion, a PE ratio of 14.58, a P/E/G ratio of 0.61 and a beta of 0.61.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06). Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm earned $2.54 EPS. Concentrix's quarterly revenue was up 46.2% on a year-over-year basis. As a group, equities analysts forecast that Concentrix Co. will post 10.18 EPS for the current year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a $0.333 dividend. This is a positive change from Concentrix's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.97%. Concentrix's payout ratio is 43.18%.

Insider Activity

In related news, EVP Cormac J. Twomey sold 400 shares of the business's stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the sale, the executive vice president now directly owns 29,327 shares of the company's stock, valued at approximately $2,188,674.01. The trade was a 1.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Caldwell sold 9,823 shares of the business's stock in a transaction on Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the completion of the sale, the chief executive officer now directly owns 241,841 shares in the company, valued at $12,745,020.70. This represents a 3.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 12,267 shares of company stock valued at $648,945 in the last quarter. Company insiders own 3.10% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CNXC. Bank of America cut their target price on shares of Concentrix from $85.00 to $70.00 and set a "neutral" rating for the company in a research note on Thursday, September 26th. Baird R W upgraded shares of Concentrix to a "strong-buy" rating in a research report on Thursday, October 3rd. Canaccord Genuity Group dropped their price objective on shares of Concentrix from $125.00 to $100.00 and set a "buy" rating for the company in a research report on Thursday, September 26th. Barrington Research dropped their price objective on shares of Concentrix from $84.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, September 26th. Finally, Robert W. Baird started coverage on shares of Concentrix in a research report on Thursday, October 3rd. They issued an "outperform" rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $79.00.

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.