Fuller & Thaler Asset Management Inc. Has $129 Million Stock Position in Concentrix Co. (NASDAQ:CNXC)

Fuller & Thaler Asset Management Inc. increased its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 38.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,981,227 shares of the company’s stock after purchasing an additional 823,228 shares during the period. Fuller & Thaler Asset Management Inc.’s holdings in Concentrix were worth $128,998,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC grew its position in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC boosted its stake in Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after acquiring an additional 490 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Concentrix by 58.7% during 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 period. KBC Group NV increased its stake in Concentrix by 68.3% in 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 in the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Concentrix by 49.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company’s stock worth $122,000 after purchasing an additional 935 shares during the period. Institutional investors own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CNXC. Barrington Research decreased 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 raised their price target on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Finally, Canaccord Genuity Group decreased their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $69.60.

Concentrix Price Performance

CNXC stock opened at $47.82 on Wednesday. The stock has a market cap of $3.05 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The stock has a 50-day moving average price of $47.51 and a two-hundred day moving average price of $46.25. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $77.00. 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 (NASDAQ:CNXC) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period last year, the company earned $2.57 earnings per share. Equities analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be given a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix’s dividend payout ratio is presently 33.33%.

Insider Buying and Selling

In other news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the sale, the executive vice president now owns 39,130 shares in the company, valued at $2,164,280.30. This represents a 1.26 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Olivier Duha sold 29,444 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total value of $1,428,622.88. Following the completion of the sale, the director now directly owns 1,155,862 shares of the company’s stock, valued at approximately $56,082,424.24. The trade was a 2.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,444 shares of company stock worth $1,484,078. 3.20% of the stock is owned by insiders.

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.