Tweedy Browne Co LLC Has $1.22 Million Stake in Concentrix Co. (NASDAQ:CNXC)

Tweedy Browne Co LLC cut its position in shares of Concentrix Co. (NASDAQ:CNXC - Free Report) by 82.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,207 shares of the company's stock after selling 135,998 shares during the period. Tweedy Browne Co LLC's holdings in Concentrix were worth $1,221,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CNXC. Steward Partners Investment Advisory LLC increased its holdings in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after buying an additional 286 shares during the period. Rhumbline Advisers grew its position in Concentrix by 0.3% in the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after acquiring an additional 324 shares during the period. Parkside Financial Bank & Trust grew 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 worth $52,000 after purchasing an additional 444 shares during the last quarter. Xponance Inc. increased its stake in shares of Concentrix by 8.9% in the fourth quarter. Xponance Inc. now owns 5,540 shares of the company's stock valued at $240,000 after buying an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of 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 in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares of the company's stock, valued at approximately $2,285,771.60. This 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 the SEC website. 3.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CNXC has been the topic of several research reports. Barrington Research reduced their price target on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a research report on Monday, March 24th. Bank of America upped their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. Finally, Canaccord Genuity Group dropped 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. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $69.60.

Concentrix Trading Down 4.3 %

NASDAQ:CNXC traded down $2.16 on Friday, hitting $48.27. 1,684,191 shares of the stock were exchanged, compared to its average volume of 677,677. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 13.01, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00. The company's 50-day moving average price is $48.22 and its 200 day moving average price is $47.11.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the business posted $2.57 earnings per share. Concentrix's revenue was down 1.3% compared to the same quarter last year. On average, equities research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors 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 dividend yield of 2.76%. Concentrix's dividend payout ratio (DPR) is presently 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.