Loomis Sayles & Co. L P Purchases 148,281 Shares of Concentrix Co. (NASDAQ:CNXC)

Loomis Sayles & Co. L P increased its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 48.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 453,773 shares of the company's stock after buying an additional 148,281 shares during the quarter. Loomis Sayles & Co. L P owned 0.70% of Concentrix worth $19,634,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its stake 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 in the last quarter. Venturi Wealth Management LLC boosted its position in Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after purchasing an additional 490 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock valued at $52,000 after purchasing an additional 444 shares during the last quarter. KBC Group NV raised its position in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after purchasing an additional 815 shares during the period. Finally, Quest Partners LLC bought a new stake in shares of Concentrix during the 3rd quarter worth about $146,000. Institutional investors and hedge funds own 90.34% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Canaccord Genuity Group decreased their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research report on Thursday, January 16th. Bank of America upped their price objective on Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Barrington Research lowered 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, March 24th. 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. According to data from MarketBeat, Concentrix currently has an average rating of "Buy" and an average target price of $69.60.

Concentrix Trading Up 1.6 %

NASDAQ:CNXC traded up $0.86 during trading hours on Wednesday, hitting $54.89. 686,654 shares of the company were exchanged, compared to its average volume of 676,251. 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 $3.53 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a fifty day simple moving average of $48.27 and a 200 day simple moving average of $47.29. 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 issued 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. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the previous year, the company posted $2.57 EPS. The company's revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently announced 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 of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.42%. Concentrix's payout ratio is 33.33%.

Insider Activity

In other Concentrix news, Director Kathryn Hayley purchased 500 shares of the company'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 completion of the acquisition, the director now owns 3,034 shares of the company's stock, valued at $152,367.48. The trade was a 19.73 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.20% of the stock is currently owned by corporate insiders.

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.