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

Boston Partners grew its stake in Concentrix Co. (NASDAQ:CNXC) by 51.2% during the 4th quarter, HoldingsChannel reports. The fund owned 533,144 shares of the company’s stock after purchasing an additional 180,581 shares during the quarter. Boston Partners’ holdings in Concentrix were worth $23,576,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its holdings in shares of Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after buying an additional 286 shares during the last quarter. Rhumbline Advisers lifted its position in Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after acquiring an additional 324 shares in the last quarter. Parkside Financial Bank & Trust boosted its stake in Concentrix by 58.7% during 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. Venturi Wealth Management LLC increased 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 worth $34,000 after purchasing an additional 490 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group dropped their price objective 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 given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $75.00.

Concentrix Trading Down 3.7 %

NASDAQ:CNXC opened at $45.06 on Friday. The company has a 50 day simple moving average of $47.69 and a two-hundred day simple moving average of $48.73. The company has a market cap of $2.90 billion, a PE ratio of 12.15, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $77.00.

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

Concentrix Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were paid a $0.3328 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend was Friday, January 31st. Concentrix’s dividend payout ratio (DPR) is presently 35.85%.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the transaction, the executive vice president now directly owns 41,111 shares in the company, valued at approximately $2,285,771.60. This trade 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 accessible through this hyperlink. 3.20% of the stock is currently owned by insiders.

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.