Concentrix Co. (NASDAQ:CNXC) Shares Purchased by Thompson Investment Management Inc.

Thompson Investment Management Inc. grew its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 1,232.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,411 shares of the company’s stock after purchasing an additional 129,876 shares during the quarter. Thompson Investment Management Inc. owned 0.22% of Concentrix worth $6,076,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CNXC. Invenomic Capital Management LP lifted its stake in shares of Concentrix by 354.3% during the third quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after purchasing an additional 368,295 shares in the last quarter. Copeland Capital Management LLC lifted its stake in shares of Concentrix by 32.9% during the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company’s stock worth $57,688,000 after purchasing an additional 329,831 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Concentrix during the third quarter worth about $2,844,000. Geode Capital Management LLC increased its position in shares of Concentrix by 5.2% during the third quarter. Geode Capital Management LLC now owns 878,092 shares of the company’s stock worth $45,013,000 after acquiring an additional 43,295 shares during the last quarter. Finally, Verition Fund Management LLC increased its position in shares of Concentrix by 221.9% during the third quarter. Verition Fund Management LLC now owns 42,054 shares of the company’s stock worth $2,155,000 after acquiring an additional 28,989 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Down 0.6 %

Shares of Concentrix stock opened at $47.79 on Friday. 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 firm has a market cap of $3.08 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.66 and a beta of 0.67. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $85.36. The business has a 50-day moving average price of $46.45 and a 200 day moving average price of $53.03.

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

Concentrix Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st will be paid a $0.3328 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a yield of 2.79%. Concentrix’s payout ratio is currently 35.85%.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group dropped their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One 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. According to data from MarketBeat.com, Concentrix 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, Director Kathryn Hayley acquired 500 shares of Concentrix stock in a transaction dated Wednesday, January 22nd. The stock was acquired at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now owns 3,034 shares in the company, valued at approximately $152,367.48. This represents a 19.73 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 1,500 shares of company stock worth $72,400 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Concentrix Company 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.