Concentrix Co. (NASDAQ:CNXC) Shares Bought by Invesco Ltd.

Invesco Ltd. lifted its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 138.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 402,457 shares of the company's stock after purchasing an additional 233,765 shares during the quarter. Invesco Ltd. owned about 0.62% of Concentrix worth $17,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CNXC. Steward Partners Investment Advisory LLC lifted its holdings in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Concentrix by 159.6% in 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 period. Parkside Financial Bank & Trust boosted its stake in shares of Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares in the last quarter. KBC Group NV raised its holdings in Concentrix by 68.3% in 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. boosted its position in Concentrix by 665.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company's stock worth $180,000 after purchasing an additional 3,624 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Price Performance

CNXC stock traded up $2.68 during mid-day trading on Thursday, reaching $50.79. The company's stock had a trading volume of 473,026 shares, compared to its average volume of 929,757. The stock has a market cap of $3.24 billion, a PE ratio of 13.69, a P/E/G ratio of 0.63 and a beta of 0.51. The company's 50 day moving average is $47.51 and its two-hundred day moving average is $46.27. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. 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 (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm's revenue was down 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.57 earnings per share. Equities research analysts expect that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be paid a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.62%. Concentrix's dividend payout ratio (DPR) is 33.33%.

Insider Transactions at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the business'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 value of $1,428,622.88. Following the sale, the director now directly owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. The trade was a 2.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 303,362 shares in the company, valued at $13,954,652. This trade represents a 0.33 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 30,444 shares of company stock worth $1,484,078 in the last 90 days. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CNXC. Bank of America boosted their price objective on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research report on Thursday, March 27th. Barrington Research lowered their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Finally, 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 equities 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $69.60.

About Concentrix

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.