First Hawaiian Bank Acquires 1,846 Shares of Concentrix Co. (NASDAQ:CNXC)

First Hawaiian Bank grew its holdings in Concentrix Co. (NASDAQ:CNXC) by 68.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,548 shares of the company’s stock after acquiring an additional 1,846 shares during the quarter. First Hawaiian Bank’s holdings in Concentrix were worth $301,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of CNXC. Groupe Bruxelles Lambert bought a new stake in shares of Concentrix in the fourth quarter worth about $861,662,000. Vanguard Group Inc. grew its holdings in shares of Concentrix by 23.9% during the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock worth $526,788,000 after buying an additional 1,034,546 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Concentrix by 161.3% during the third quarter. AQR Capital Management LLC now owns 794,300 shares of the company’s stock worth $63,488,000 after buying an additional 490,361 shares in the last quarter. Copeland Capital Management LLC bought a new position in shares of Concentrix during the fourth quarter worth about $40,339,000. Finally, Norges Bank bought a new position in shares of Concentrix during the fourth quarter worth about $31,294,000. 90.34% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CNXC. Bank of America reiterated an “underperform” rating and set a $60.00 price objective (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Scotiabank decreased their price objective on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Finally, Barrington Research restated an “outperform” rating and issued a $84.00 price target on shares of Concentrix in a research note on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.75.

Concentrix Stock Up 0.3 %

CNXC stock opened at $60.66 on Friday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average price of $59.93 and a two-hundred day moving average price of $74.52. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 0.71 and a beta of 0.60. Concentrix Co. has a twelve month low of $53.89 and a twelve month high of $106.10.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Concentrix had a net margin of 3.53% and a return on equity of 17.70%. The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. Analysts anticipate that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th were given a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.00%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, April 25th. Concentrix’s dividend payout ratio (DPR) is presently 24.95%.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell acquired 900 shares of the business’s stock in a transaction dated Friday, April 19th. The stock was bought at an average cost of $54.59 per share, with a total value of $49,131.00. Following the completion of the transaction, the chief executive officer now directly owns 239,128 shares in the company, valued at approximately $13,053,997.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders acquired a total of 1,679 shares of company stock valued at $98,546 over the last three months. Insiders own 3.00% of the company’s stock.

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.