Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Scotia Capital Inc.

Scotia Capital Inc. lifted its position in Concentrix Co. (NASDAQ:CNXC - Free Report) by 28.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,548 shares of the company's stock after acquiring an additional 5,912 shares during the quarter. Scotia Capital Inc.'s holdings in Concentrix were worth $1,149,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CNXC. State Street Corp lifted its position in shares of Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after purchasing an additional 18,304 shares during the period. Nordea Investment Management AB lifted its holdings in Concentrix by 43.9% during the fourth quarter. Nordea Investment Management AB now owns 70,654 shares of the company's stock worth $3,076,000 after buying an additional 21,568 shares during the period. Thompson Investment Management Inc. boosted its position in Concentrix by 1,232.8% during the 4th quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company's stock valued at $6,076,000 after acquiring an additional 129,876 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Concentrix in the fourth quarter valued at about $4,752,000. Finally, American Century Companies Inc. bought a new position in Concentrix in the fourth quarter worth about $539,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the firm'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 transaction of $1,428,622.88. Following the sale, the director now owns 1,155,862 shares of the company's stock, valued at $56,082,424.24. This trade represents a 2.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Cormac J. Twomey sold 500 shares of Concentrix 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 transaction, the executive vice president now directly owns 41,111 shares of the company's stock, valued at approximately $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,444 shares of company stock worth $1,484,078. Insiders own 3.20% of the company's stock.

Concentrix Stock Performance

CNXC traded down $0.12 on Friday, reaching $47.33. 564,548 shares of the stock were exchanged, compared to its average volume of 695,816. The company's 50-day moving average price is $47.54 and its 200 day moving average price is $46.36. The firm has a market capitalization of $3.02 billion, a PE ratio of 12.76, a PEG ratio of 0.63 and a beta of 0.51. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. 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 posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period last year, the firm posted $2.57 EPS. As a group, sell-side analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a yield of 2.81%. The ex-dividend date is Friday, April 25th. Concentrix's dividend payout ratio is currently 33.33%.

Analysts Set New Price Targets

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

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.