Natixis Acquires New Shares in Concentrix Co. (NASDAQ:CNXC)

Natixis purchased a new position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 13,884 shares of the company's stock, valued at approximately $601,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Steward Partners Investment Advisory LLC lifted its holdings in Concentrix by 81.3% in the 4th 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 acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in Concentrix by 58.7% in 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 during the period. 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 valued at $87,000 after acquiring an additional 815 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Concentrix by 49.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock worth $122,000 after purchasing an additional 935 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the transaction, the executive vice president now directly owns 39,130 shares in the company, valued at approximately $2,164,280.30. This trade represents a 1.26 % decrease 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 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 owns 1,155,862 shares in the company, valued at $56,082,424.24. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 30,444 shares of company stock worth $1,484,078 in the last ninety days. 3.20% of the stock is owned by insiders.

Concentrix Stock Up 2.1 %

Concentrix stock traded up $1.05 during trading on Monday, reaching $51.26. 590,602 shares of the company's stock were exchanged, compared to its average volume of 700,895. 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 52-week low of $36.28 and a 52-week high of $77.00. The firm has a market cap of $3.27 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 0.63 and a beta of 0.51. The company's 50-day moving average is $47.60 and its two-hundred day moving average is $46.27.

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

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors 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 dividend on an annualized basis and a dividend yield of 2.60%. Concentrix's dividend payout ratio (DPR) is presently 33.33%.

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.