Concentrix Co. (NASDAQ:CNXC) Shares Purchased by MetLife Investment Management LLC

MetLife Investment Management LLC raised its position in shares of Concentrix Co. (NASDAQ:CNXC) by 8.2% during the 4th quarter, Holdings Channel reports. The firm owned 26,313 shares of the company’s stock after buying an additional 2,004 shares during the quarter. MetLife Investment Management LLC’s holdings in Concentrix were worth $1,139,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC boosted its position in 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 buying an additional 286 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after acquiring an additional 324 shares during the last quarter. Parkside Financial Bank & Trust increased its stake 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 worth $52,000 after acquiring an additional 444 shares during the period. Xponance Inc. raised its holdings in shares of Concentrix by 8.9% during the fourth quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after purchasing an additional 455 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its position in Concentrix by 159.6% during 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 period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Insider Buying and Selling

In other news, CEO Christopher A. Caldwell acquired 1,000 shares of the firm’s stock in a transaction on Monday, April 21st. The shares were bought at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the acquisition, the chief executive officer now owns 303,362 shares of the company’s stock, valued at approximately $13,954,652. This trade represents a 0.33 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total transaction of $25,350.00. Following the sale, the executive vice president now directly owns 38,630 shares of the company’s stock, valued at $1,958,541. The trade was a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 30,444 shares of company stock worth $1,481,628 in the last 90 days. Insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

Concentrix Stock Performance

NASDAQ CNXC opened at $50.63 on Friday. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 0.63 and a beta of 0.51. The stock has a 50-day moving average of $47.99 and a 200 day moving average of $46.37. 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 twelve month low of $36.28 and a twelve month high of $77.00.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the prior year, the company posted $2.57 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. Sell-side analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.63%. Concentrix’s dividend payout ratio is currently 33.33%.

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.