Boston Partners Purchases 180,581 Shares of Concentrix Co. (NASDAQ:CNXC)

Boston Partners grew its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 51.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 533,144 shares of the company’s stock after purchasing an additional 180,581 shares during the quarter. Boston Partners owned about 0.83% of Concentrix worth $23,576,000 at the end of the most recent reporting period.

Other institutional investors have 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% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after buying an additional 286 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Concentrix by 159.6% during 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 in the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after purchasing an additional 444 shares during the period. KBC Group NV raised its position in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after buying an additional 815 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Concentrix during the third quarter valued at $146,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

Separately, Canaccord Genuity Group cut their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $75.00.

Concentrix Trading Down 3.7 %

Shares of CNXC opened at $45.06 on Friday. The firm has a fifty day simple moving average of $47.69 and a two-hundred day simple moving average of $48.73. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The stock has a market capitalization of $2.90 billion, a P/E ratio of 12.15, a PEG 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.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.25. The company had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $3.36 earnings per share. On average, research analysts anticipate that Concentrix Co. will post 10.11 EPS for the current 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 dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Friday, January 31st. Concentrix’s payout ratio is currently 35.85%.

Insiders Place Their Bets

In related news, Director Kathryn Hayley purchased 500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was bought at an average cost of $50.22 per share, with a total value of $25,110.00. Following the completion of the purchase, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company 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.