Neuberger Berman Group LLC Increases Holdings in Concentrix Co. (NASDAQ:CNXC)

Neuberger Berman Group LLC lifted its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 42.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,327 shares of the company's stock after acquiring an additional 16,479 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.09% of Concentrix worth $2,394,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC raised its position in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of 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 lifted its stake 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 worth $52,000 after acquiring an additional 444 shares during the period. KBC Group NV increased its position in Concentrix by 68.3% during the 4th 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, SRS Capital Advisors Inc. raised its holdings in Concentrix by 665.0% during the 4th 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 during the last quarter. Institutional investors own 90.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CNXC shares. Bank of America upped their price target 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. Barrington Research cut their target price on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Finally, Canaccord Genuity Group lowered 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 assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Concentrix currently has a consensus rating of "Buy" and a consensus target price of $69.60.

Insiders Place Their Bets

In other news, Director Kathryn Hayley purchased 500 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were purchased at an average cost of $50.22 per share, with a total value of $25,110.00. Following the acquisition, the director now directly owns 3,034 shares of the company's stock, valued at $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.20% of the company's stock.

Concentrix Trading Down 1.6 %

Shares of CNXC stock traded down $0.77 during mid-day trading on Thursday, reaching $46.68. The stock had a trading volume of 216,728 shares, compared to its average volume of 946,674. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The stock's 50-day moving average price is $47.56 and its two-hundred day moving average price is $46.42. The firm has a market capitalization of $2.98 billion, a PE ratio of 12.58, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the firm posted $2.57 EPS. The company's revenue for the quarter was down 1.3% compared to the same quarter last year. Equities analysts expect that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders 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 2.85%. Concentrix's dividend payout ratio is currently 33.33%.

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.