109,833 Shares in Concentrix Co. (NASDAQ:CNXC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new stake in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The firm bought 109,833 shares of the company's stock, valued at approximately $4,752,000. Raymond James Financial Inc. owned 0.17% of Concentrix as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Barclays PLC raised its position in shares of Concentrix by 134.3% in the 3rd quarter. Barclays PLC now owns 35,862 shares of the company's stock valued at $1,837,000 after purchasing an additional 20,559 shares in the last quarter. Franklin Resources Inc. bought a new position in Concentrix in the 3rd quarter valued at about $445,000. Nordea Investment Management AB grew its position in Concentrix by 43.9% in the 4th quarter. Nordea Investment Management AB now owns 70,654 shares of the company's stock valued at $3,076,000 after buying an additional 21,568 shares in the last quarter. First Hawaiian Bank grew its position in Concentrix by 51.3% in the 4th quarter. First Hawaiian Bank now owns 13,619 shares of the company's stock valued at $589,000 after buying an additional 4,619 shares in the last quarter. Finally, Harbor Capital Advisors Inc. boosted its position in shares of Concentrix by 46.6% during the 4th quarter. Harbor Capital Advisors Inc. now owns 31,756 shares of the company's stock valued at $1,374,000 after purchasing an additional 10,089 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on CNXC shares. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Barrington Research reduced their price objective 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. Finally, Bank of America upped 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 equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Concentrix presently has an average rating of "Buy" and a consensus target price of $69.60.

Concentrix Price Performance

Concentrix stock traded up $1.05 during trading hours on Monday, hitting $51.26. 590,602 shares of the 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. The stock has a market capitalization of $3.27 billion, a P/E ratio of 13.82, a P/E/G ratio of 0.63 and a beta of 0.51. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The business's 50-day moving average is $47.67 and its two-hundred day moving average is $46.29.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly 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. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.37 billion. During the same period in the prior year, the firm posted $2.57 earnings per share. The business's quarterly revenue was down 1.3% compared to the same quarter last year. Equities research analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The firm 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 $0.3328 dividend. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.60%. Concentrix's dividend payout ratio is 33.33%.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the transaction, the executive vice president now owns 41,111 shares in the company, valued at approximately $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This trade represents 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 over the last 90 days. Company insiders own 3.20% of the company's stock.

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.