Sapient Capital LLC Buys New Position in Concentrix Co. (NASDAQ:CNXC)

Sapient Capital LLC purchased a new position in Concentrix Co. (NASDAQ:CNXC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,300 shares of the company’s stock, valued at approximately $324,000.

Other large investors have also added to or reduced their stakes in the company. Fifth Third Bancorp boosted its stake in shares of Concentrix by 9.1% during the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock valued at $145,000 after purchasing an additional 123 shares in the last quarter. Arizona State Retirement System boosted its position in Concentrix by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 12,598 shares of the company’s stock valued at $1,009,000 after acquiring an additional 168 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Concentrix by 6.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,318 shares of the company’s stock worth $266,000 after acquiring an additional 199 shares during the period. Blue Trust Inc. raised its position in shares of Concentrix by 29.8% in the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $113,000 after acquiring an additional 264 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Concentrix by 381.7% in the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the period. Institutional investors own 90.34% of the company’s stock.

Insider Buying and Selling

In other Concentrix news, CEO Christopher A. Caldwell bought 900 shares of the firm’s stock in a transaction on Friday, April 19th. The stock was acquired at an average price of $54.59 per share, with a total value of $49,131.00. Following the transaction, the chief executive officer now owns 239,128 shares in the company, valued at $13,053,997.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders bought a total of 1,679 shares of company stock worth $98,546 in the last three months. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Barrington Research decreased their price objective on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a report on Wednesday, March 27th. Scotiabank decreased their price target on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research note on Monday, April 29th. Finally, Bank of America reissued an “underperform” rating and set a $60.00 price target (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $74.75.

Concentrix Trading Up 3.1 %

Concentrix stock opened at $61.18 on Tuesday. Concentrix Co. has a 12 month low of $53.89 and a 12 month high of $106.10. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 0.68 and a beta of 0.55. The business’s fifty day simple moving average is $62.23 and its two-hundred day simple moving average is $80.11. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. As a group, equities analysts predict that Concentrix Co. will post 11.03 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be given a dividend of $0.303 per share. The ex-dividend date is Thursday, April 25th. This represents a $1.21 annualized dividend and a dividend yield of 1.98%. This is an increase from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio (DPR) is 24.95%.

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.