Loomis Sayles & Co. L P Raises Stake in Concentrix Co. (NASDAQ:CNXC)

Loomis Sayles & Co. L P grew its holdings in shares of Concentrix Co. (NASDAQ:CNXC) by 48.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 453,773 shares of the company’s stock after acquiring an additional 148,281 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Concentrix were worth $19,634,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Steward Partners Investment Advisory LLC boosted its holdings in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC lifted its position in Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after purchasing an additional 490 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in Concentrix by 58.7% in the fourth 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. KBC Group NV boosted its stake in shares of Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after purchasing an additional 815 shares during the period. Finally, Quest Partners LLC bought a new position in shares of Concentrix in the third quarter worth approximately $146,000. 90.34% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CNXC shares. Barrington Research lowered their price target on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Bank of America upped their price objective on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Canaccord Genuity Group cut their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $69.60.

Concentrix Stock Down 12.4 %

Shares of NASDAQ CNXC opened at $56.95 on Friday. The firm has a fifty day simple moving average of $48.06 and a two-hundred day simple moving average of $47.75. The firm has a market capitalization of $3.66 billion, a PE ratio of 15.35, 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, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period last year, the business posted $2.57 earnings per share. Concentrix’s quarterly revenue was down 1.3% compared to the same quarter last year. Equities analysts expect that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.34%. Concentrix’s payout ratio is 35.85%.

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.