Concentrix Co. (NASDAQ:CNXC) Stock Holdings Lifted by Thompson Investment Management Inc.

Thompson Investment Management Inc. raised its stake in Concentrix Co. (NASDAQ:CNXC) by 1,232.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 140,411 shares of the company’s stock after buying an additional 129,876 shares during the period. Thompson Investment Management Inc.’s holdings in Concentrix were worth $6,076,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC increased its holdings in shares of Concentrix by 64.9% in the third quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after buying an additional 287 shares in the last quarter. KBC Group NV raised its stake in Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after purchasing an additional 815 shares during the period. Quest Partners LLC acquired a new stake in Concentrix during the 3rd quarter valued at $146,000. Blue Trust Inc. raised its stake in Concentrix by 62.4% during the 3rd quarter. Blue Trust Inc. now owns 3,132 shares of the company’s stock valued at $161,000 after purchasing an additional 1,204 shares during the period. Finally, Parametrica Management Ltd acquired a new stake in Concentrix during the 3rd quarter valued at $214,000. Institutional investors own 90.34% of the company’s stock.

Concentrix Trading Down 0.6 %

NASDAQ CNXC opened at $47.79 on Friday. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $85.36. 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 company has a market capitalization of $3.08 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 0.66 and a beta of 0.67. The firm’s fifty day simple moving average is $46.45 and its 200-day simple moving average is $53.03.

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

Concentrix Cuts Dividend

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

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares in the company, valued at $2,285,771.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders sold 1,500 shares of company stock worth $72,400. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group cut their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Concentrix currently has an average rating of “Buy” and a consensus target price of $75.00.

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.