Rhumbline Advisers Has $5.57 Million Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Rhumbline Advisers raised its stake in Concentrix Co. (NASDAQ:CNXC) by 0.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,617 shares of the company’s stock after acquiring an additional 324 shares during the quarter. Rhumbline Advisers owned about 0.20% of Concentrix worth $5,565,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of CNXC. KBC Group NV grew its holdings in Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after buying an additional 815 shares in the last quarter. Clark Estates Inc. NY increased its stake in Concentrix by 2.0% during the 3rd quarter. Clark Estates Inc. NY now owns 45,150 shares of the company’s stock worth $2,314,000 after acquiring an additional 900 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Concentrix by 16.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 10,543 shares of the company’s stock valued at $540,000 after acquiring an additional 1,475 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Concentrix by 22.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,054 shares of the company’s stock valued at $515,000 after acquiring an additional 1,821 shares during the period. Finally, Janus Henderson Group PLC grew its holdings in shares of Concentrix by 2.5% during the 3rd quarter. Janus Henderson Group PLC now owns 104,499 shares of the company’s stock worth $5,355,000 after purchasing an additional 2,564 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $45.32 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm’s 50-day moving average price is $47.38 and its 200-day moving average price is $51.24. The firm has a market capitalization of $2.92 billion, a P/E ratio of 12.22, a P/E/G ratio of 0.63 and a beta of 0.66. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.44 billion. During the same period in the prior year, the firm earned $3.36 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were issued a dividend of $0.3328 per share. The ex-dividend date was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a yield of 2.94%. Concentrix’s dividend payout ratio (DPR) is 35.85%.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the transaction, the executive vice president now owns 41,111 shares of the company’s stock, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group cut 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 investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $75.00.

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.