Concentrix Co. (NASDAQ:CNXC) Holdings Raised by Nierenberg Investment Management Company Inc.

Nierenberg Investment Management Company Inc. grew its holdings in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 87.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,480 shares of the company's stock after purchasing an additional 30,170 shares during the period. Concentrix accounts for 1.6% of Nierenberg Investment Management Company Inc.'s portfolio, making the stock its 11th biggest position. Nierenberg Investment Management Company Inc. owned approximately 0.10% of Concentrix worth $2,790,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Steward Partners Investment Advisory LLC boosted 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 valued at $28,000 after purchasing an additional 286 shares during the period. Venturi Wealth Management LLC lifted its stake in Concentrix by 159.6% in the fourth 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 boosted its holdings 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 valued at $52,000 after acquiring an additional 444 shares during the period. KBC Group NV grew its position in shares of Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after acquiring an additional 815 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its position in shares of Concentrix by 665.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company's stock worth $180,000 after acquiring an additional 3,624 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares of the company's stock, valued at $2,285,771.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.20% of the company's stock.

Concentrix Price Performance

Shares of Concentrix stock traded up $1.18 on Friday, hitting $48.82. The company had a trading volume of 783,230 shares, compared to its average volume of 692,867. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The company has a market cap of $3.12 billion, a PE ratio of 13.16, a PEG ratio of 0.63 and a beta of 0.51. The business has a 50-day simple moving average of $47.54 and a 200-day simple moving average of $46.41. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42.

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

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders 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 2.73%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's payout ratio is 33.33%.

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.