Concentrix Co. (NASDAQ:CNXC) Position Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 173,203 shares of the company's stock after buying an additional 17,073 shares during the period. JPMorgan Chase & Co. owned approximately 0.27% of Concentrix worth $7,494,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted 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 purchasing an additional 286 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in shares of 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 buying an additional 490 shares during the last quarter. Parkside Financial Bank & Trust grew its position in shares of Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after buying an additional 444 shares in the last quarter. KBC Group NV increased its stake in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after buying an additional 815 shares during the last quarter. Finally, SRS Capital Advisors Inc. raised its holdings in Concentrix by 665.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company's stock valued at $180,000 after acquiring an additional 3,624 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CNXC has been the subject of several recent analyst reports. 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. Canaccord Genuity Group dropped 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. Finally, Barrington Research lowered their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $69.60.

Concentrix Stock Performance

CNXC stock traded up $0.95 during mid-day trading on Tuesday, reaching $47.82. The company had a trading volume of 448,034 shares, compared to its average volume of 696,216. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The stock has a market capitalization of $3.05 billion, a P/E ratio of 12.89, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The stock's 50-day simple moving average is $47.51 and its two-hundred day simple moving average is $46.25.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating 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 the consensus estimate of $2.37 billion. During the same period last year, the firm posted $2.57 EPS. Concentrix's quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts anticipate that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Friday, April 25th. Concentrix's dividend payout ratio (DPR) is 33.33%.

Insider Activity at Concentrix

In other Concentrix news, Director Kathryn Hayley purchased 500 shares of the firm's stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average price of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at $152,367.48. This represents a 19.73 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction 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 completion of the transaction, the director now directly owns 1,155,862 shares in the company, valued at $56,082,424.24. This represents a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,444 shares of company stock worth $1,484,078 in the last three months. 3.20% of the stock is owned by company insiders.

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.