First Trust Advisors LP Has $28.12 Million Holdings in Concentrix Co. (NASDAQ:CNXC)

First Trust Advisors LP raised its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 34.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 649,755 shares of the company's stock after purchasing an additional 164,906 shares during the period. First Trust Advisors LP owned 1.01% of Concentrix worth $28,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in CNXC. Pzena Investment Management LLC increased its stake in Concentrix by 60.0% in the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after purchasing an additional 880,960 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Concentrix by 209.0% in the 4th quarter. Marshall Wace LLP now owns 593,043 shares of the company's stock valued at $25,661,000 after buying an additional 401,133 shares during the period. Norges Bank acquired a new position in shares of Concentrix in the 4th quarter valued at $15,315,000. Copeland Capital Management LLC grew its holdings in shares of Concentrix by 32.9% in the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after buying an additional 329,831 shares during the period. Finally, Invesco Ltd. grew its holdings in shares of Concentrix by 138.6% in the 4th quarter. Invesco Ltd. now owns 402,457 shares of the company's stock valued at $17,414,000 after buying an additional 233,765 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Up 0.4 %

NASDAQ CNXC traded up $0.20 on Tuesday, reaching $51.46. The company had a trading volume of 509,527 shares, compared to its average volume of 700,136. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 13.87, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. 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 1-year low of $36.28 and a 1-year high of $77.00. The company's fifty day moving average is $47.67 and its 200-day moving average is $46.29.

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

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be given a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.59%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Barrington Research decreased their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a report on Monday, March 24th. Bank of America boosted their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Canaccord Genuity Group decreased their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Concentrix currently has a consensus rating of "Buy" and an average price target of $69.60.

Insiders Place Their Bets

In other news, CEO Christopher A. Caldwell bought 1,000 shares of the company's stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $46.00 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. This trade represents a 0.33 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. The trade was a 2.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 30,444 shares of company stock valued at $1,484,078 in the last three months. 3.20% of the stock is currently owned by corporate insiders.

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.