Concentrix Co. (NASDAQ:CNXC) Stake Lessened by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. trimmed its position in shares of Concentrix Co. (NASDAQ:CNXC) by 85.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,600 shares of the company’s stock after selling 111,100 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Concentrix were worth $805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CNXC. Pzena Investment Management LLC raised its holdings in shares of Concentrix by 60.0% during the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company’s stock worth $101,667,000 after acquiring an additional 880,960 shares in the last quarter. Invenomic Capital Management LP raised its holdings in shares of Concentrix by 354.3% during the third quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after acquiring an additional 368,295 shares in the last quarter. Copeland Capital Management LLC raised its holdings in shares of Concentrix by 32.9% during the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company’s stock worth $57,688,000 after acquiring an additional 329,831 shares in the last quarter. Thompson Investment Management Inc. raised its holdings in shares of Concentrix by 1,232.8% during the fourth quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company’s stock worth $6,076,000 after acquiring an additional 129,876 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Concentrix during the fourth quarter worth $4,752,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Concentrix Stock Up 1.2 %

Shares of CNXC opened at $46.81 on Thursday. The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 12.62, a P/E/G 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 Co. has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a 50-day moving average price of $47.70 and a two-hundred day moving average price of $48.75.

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

Concentrix Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, January 31st. Concentrix’s dividend payout ratio is currently 35.85%.

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 investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $75.00.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the firm’s 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 completion of the sale, the executive vice president now owns 41,111 shares of the company’s stock, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.

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.