Concentrix Co. (NASDAQ:CNXC) Shares Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lifted its position in shares of Concentrix Co. (NASDAQ:CNXC) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 29,171 shares of the company’s stock after purchasing an additional 1,084 shares during the period. Mutual of America Capital Management LLC’s holdings in Concentrix were worth $2,865,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Utah Retirement Systems increased its position in shares of Concentrix by 4.5% during the second quarter. Utah Retirement Systems now owns 2,300 shares of the company’s stock worth $312,000 after purchasing an additional 100 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Concentrix by 9.1% during the fourth quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock worth $145,000 after purchasing an additional 123 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Concentrix by 7.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company’s stock worth $310,000 after purchasing an additional 133 shares in the last quarter. Miracle Mile Advisors LLC increased its position in shares of Concentrix by 4.0% during the third quarter. Miracle Mile Advisors LLC now owns 4,366 shares of the company’s stock worth $350,000 after purchasing an additional 168 shares in the last quarter. Finally, Arizona State Retirement System increased its position in Concentrix by 1.4% in 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 during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Performance

NASDAQ CNXC opened at $54.75 on Friday. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average is $68.08 and its two-hundred day moving average is $81.96. Concentrix Co. has a 12-month low of $54.29 and a 12-month high of $110.49. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.66 and a beta of 0.48.

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

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be given a dividend of $0.303 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, April 25th. This represents a $1.21 annualized dividend and a yield of 2.21%. Concentrix’s payout ratio is presently 24.95%.

Wall Street Analyst Weigh In

CNXC has been the topic of several recent research reports. Barrington Research dropped their price target on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 27th. Bank of America restated an “underperform” rating and issued a $60.00 price target (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $82.25.

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.