Victory Capital Management Inc. Acquires 36,134 Shares of Concentrix Co. (NASDAQ:CNXC)

Victory Capital Management Inc. lifted its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 125.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 64,907 shares of the company’s stock after acquiring an additional 36,134 shares during the period. Victory Capital Management Inc. owned approximately 0.10% of Concentrix worth $2,809,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC lifted its holdings in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after acquiring an additional 490 shares during the period. Parkside Financial Bank & Trust lifted its holdings in shares of Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after acquiring an additional 444 shares during the period. KBC Group NV lifted its holdings in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after acquiring an additional 815 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Concentrix during the 3rd quarter worth about $146,000. 90.34% of the stock is owned by institutional investors.

Concentrix Trading Up 3.9 %

Shares of Concentrix stock opened at $45.02 on Monday. The stock has a market capitalization of $2.90 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a 50-day simple moving average of $47.66 and a 200 day simple moving average of $49.18. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $3.36 EPS. Research analysts expect 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. Shareholders of record on Friday, January 31st were given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.96%. The ex-dividend date was Friday, January 31st. Concentrix’s payout ratio is presently 35.85%.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their target price 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 equities 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $75.00.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate 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.