Swiss National Bank Has $8.39 Million Holdings in Concentrix Co. (NASDAQ:CNXC)

Swiss National Bank trimmed its holdings in Concentrix Co. (NASDAQ:CNXC) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,385 shares of the company’s stock after selling 11,800 shares during the period. Swiss National Bank owned 0.13% of Concentrix worth $8,386,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Parkside Financial Bank & Trust lifted its holdings in Concentrix by 146.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after purchasing an additional 374 shares during the last quarter. Headlands Technologies LLC bought a new stake in shares of Concentrix during the 3rd quarter worth about $65,000. EverSource Wealth Advisors LLC grew its stake in Concentrix by 134.9% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,313 shares of the company’s stock valued at $105,000 after buying an additional 754 shares during the last quarter. Blue Trust Inc. raised its holdings in Concentrix by 29.8% in the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after acquiring an additional 264 shares during the period. Finally, Covestor Ltd raised its holdings in Concentrix by 163.3% in the 3rd quarter. Covestor Ltd now owns 1,522 shares of the company’s stock valued at $122,000 after acquiring an additional 944 shares during the period. 90.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on CNXC. Scotiabank dropped their price objective on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Barrington Research reduced their price objective on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th. Finally, Bank of America restated an “underperform” rating and issued a $60.00 target price (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $74.75.

Concentrix Stock Up 4.0 %

CNXC stock opened at $62.65 on Tuesday. The firm has a 50-day moving average price of $60.49 and a 200-day moving average price of $79.45. Concentrix Co. has a 12 month low of $53.89 and a 12 month high of $106.10. 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 stock has a market capitalization of $4.13 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 0.69 and a beta of 0.55.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data 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). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The company had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. As a group, equities research analysts anticipate that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 7th. Investors of record on Friday, April 26th were given a dividend of $0.303 per share. The ex-dividend date was Thursday, April 25th. This represents a $1.21 dividend on an annualized basis and a yield of 1.93%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is currently 24.95%.

Insiders Place Their Bets

In other news, CEO Christopher A. Caldwell purchased 900 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were purchased at an average cost of $54.59 per share, with a total value of $49,131.00. Following the completion of the purchase, the chief executive officer now owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders bought a total of 1,679 shares of company stock valued at $98,546 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Concentrix Company 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.