Concentrix Co. (NASDAQ:CNXC) Shares Bought by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 362.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,418 shares of the company's stock after purchasing an additional 10,517 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Concentrix were worth $581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cerity Partners LLC lifted its position in Concentrix by 92.6% during the third quarter. Cerity Partners LLC now owns 11,778 shares of the company's stock valued at $604,000 after buying an additional 5,663 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Concentrix by 22.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,054 shares of the company's stock valued at $515,000 after acquiring an additional 1,821 shares in the last quarter. Verition Fund Management LLC boosted its position in Concentrix by 221.9% during the 3rd quarter. Verition Fund Management LLC now owns 42,054 shares of the company's stock worth $2,155,000 after purchasing an additional 28,989 shares during the period. Janus Henderson Group PLC increased its holdings in Concentrix by 2.5% in the 3rd quarter. Janus Henderson Group PLC now owns 104,499 shares of the company's stock valued at $5,355,000 after purchasing an additional 2,564 shares in the last quarter. Finally, Invenomic Capital Management LP raised its position in Concentrix by 354.3% in the third quarter. Invenomic Capital Management LP now owns 472,243 shares of the company's stock valued at $24,202,000 after purchasing an additional 368,295 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

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Insiders Place Their Bets

In other Concentrix news, Director Kathryn Hayley bought 500 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were purchased at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is owned by corporate insiders.

Concentrix Stock Down 4.3 %

NASDAQ CNXC traded down $2.16 on Friday, hitting $48.27. 1,684,191 shares of the stock traded hands, compared to its average volume of 677,677. The company has a market capitalization of $3.11 billion, a P/E ratio of 13.01, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The stock has a 50-day moving average of $48.22 and a 200 day moving average of $46.99. 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 Co. has a twelve month low of $36.28 and a twelve month high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The firm's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, analysts expect that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.76%. Concentrix's payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

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

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.