Gotham Asset Management LLC Buys 240,383 Shares of Concentrix Co. (NASDAQ:CNXC)

Gotham Asset Management LLC boosted its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 2,087.2% in the fourth quarter, Holdings Channel reports. The firm owned 251,900 shares of the company’s stock after acquiring an additional 240,383 shares during the period. Gotham Asset Management LLC’s holdings in Concentrix were worth $10,900,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC boosted its position in shares of Concentrix by 81.3% in the fourth 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 boosted its position in shares of 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 acquiring an additional 490 shares during the period. Parkside Financial Bank & Trust boosted its position in shares of 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 acquiring an additional 444 shares during the period. KBC Group NV boosted its position in shares of 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 acquiring an additional 815 shares during the period. Finally, Quarry LP boosted its position in shares of Concentrix by 843.9% in the fourth quarter. Quarry LP now owns 2,539 shares of the company’s stock valued at $110,000 after acquiring an additional 2,270 shares during the period. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Up 2.5%

Shares of CNXC stock opened at $53.33 on Monday. The stock has a market cap of $3.41 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 0.63 and a beta of 0.52. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The stock has a fifty day moving average price of $48.79 and a 200 day moving average price of $46.49.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $2.57 earnings per share. Analysts predict that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th were paid a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date was Friday, April 25th. Concentrix’s dividend payout ratio is 33.33%.

Insider Buying and Selling at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell bought 1,000 shares of Concentrix stock in a transaction dated Monday, April 21st. The shares were acquired at an average cost of $46.00 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer now directly owns 303,362 shares of the company’s stock, valued at $13,954,652. The trade was a 0.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Olivier Duha sold 29,444 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 1,155,862 shares of the company’s stock, valued at $56,082,424.24. This represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 30,444 shares of company stock valued at $1,481,628. 3.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CNXC shares. Canaccord Genuity Group reduced their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Barrington Research reduced their target price on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Finally, Bank of America increased their target price on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research note on Thursday, March 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $65.75.

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.