Tweedy Browne Co LLC Sells 135,998 Shares of Concentrix Co. (NASDAQ:CNXC)

Tweedy Browne Co LLC cut its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 82.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 28,207 shares of the company’s stock after selling 135,998 shares during the period. Tweedy Browne Co LLC’s holdings in Concentrix were worth $1,221,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC grew its position in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after purchasing an additional 286 shares in the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after purchasing an additional 490 shares during the period. Parkside Financial Bank & Trust lifted its stake in Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after purchasing an additional 444 shares during the last quarter. KBC Group NV grew its holdings in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in Concentrix by 665.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 4,169 shares of the company’s stock worth $180,000 after buying an additional 3,624 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Performance

NASDAQ CNXC opened at $55.64 on Tuesday. 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 market capitalization of $3.58 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.63 and a beta of 0.69. The firm has a 50-day moving average price of $48.20 and a two-hundred day moving average price of $47.38. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the firm earned $2.57 earnings per share. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.39%. Concentrix’s dividend payout ratio (DPR) is presently 33.33%.

Insider Activity

In related news, Director Kathryn Hayley bought 500 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was acquired at an average cost of $50.22 per share, with a total value of $25,110.00. Following the transaction, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. This trade represents a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Canaccord Genuity Group dropped their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Barrington Research dropped their price objective on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th. Finally, Bank of America lifted their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. One investment 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $69.60.

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.