353,938 Shares in Concentrix Co. (NASDAQ:CNXC) Bought by Norges Bank

Norges Bank purchased a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 353,938 shares of the company's stock, valued at approximately $15,315,000. Norges Bank owned about 0.55% of Concentrix as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC grew its holdings 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 acquiring an additional 286 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Concentrix by 0.3% during the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after purchasing an additional 324 shares during the last quarter. 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 in the last quarter. Xponance Inc. raised its position in Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company's stock worth $240,000 after purchasing an additional 455 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after buying an additional 490 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Insider Transactions at Concentrix

In other Concentrix news, Director Kathryn Hayley purchased 500 shares of the stock in a transaction 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 purchase, the director now owns 3,034 shares of the company's stock, valued at approximately $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CNXC has been the subject of a number of recent research reports. Canaccord Genuity Group dropped their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Bank of America boosted their price objective on Concentrix from $58.00 to $59.00 and gave the stock 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 for the company in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Concentrix has an average rating of "Buy" and an average target price of $69.60.

Concentrix Trading Up 2.5 %

Shares of Concentrix stock traded up $1.18 during trading on Friday, hitting $48.82. 783,230 shares of the company were exchanged, compared to its average volume of 692,723. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $3.12 billion, a P/E ratio of 13.16, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The firm's fifty day moving average price is $47.54 and its 200 day moving average price is $46.45. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.58 by $0.21. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business's quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.57 earnings per share. As a group, sell-side analysts expect that Concentrix Co. will post 10.11 earnings per share 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. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.73%. Concentrix's dividend payout ratio (DPR) 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.