Simplicity Solutions LLC Grows Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Simplicity Solutions LLC grew its holdings in Concentrix Co. (NASDAQ:CNXC) by 42.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,343 shares of the company’s stock after acquiring an additional 1,287 shares during the period. Simplicity Solutions LLC’s holdings in Concentrix were worth $427,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CNXC. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Concentrix by 470.1% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 969,707 shares of the company’s stock valued at $77,683,000 after acquiring an additional 799,625 shares during the last quarter. Impactive Capital LP boosted its holdings in shares of Concentrix by 30.2% in the 3rd quarter. Impactive Capital LP now owns 3,255,172 shares of the company’s stock valued at $260,772,000 after acquiring an additional 754,566 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Concentrix by 161.3% in the 3rd quarter. AQR Capital Management LLC now owns 794,300 shares of the company’s stock valued at $63,488,000 after acquiring an additional 490,361 shares during the last quarter. Norges Bank purchased a new stake in shares of Concentrix in the 4th quarter valued at $56,061,000. Finally, Copeland Capital Management LLC purchased a new stake in shares of Concentrix in the 4th quarter valued at $40,339,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $54.75 on Friday. The company’s fifty day moving average price is $68.08 and its 200 day moving average price is $81.96. Concentrix Co. has a 1 year low of $54.29 and a 1 year high of $110.49. The company has a market capitalization of $3.61 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.63 and a beta of 0.48. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.56 and a current ratio of 1.56.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. On average, research analysts predict that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be issued a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 2.21%. This is an increase from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s dividend payout ratio (DPR) is presently 24.95%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CNXC shares. Barrington Research dropped their price objective on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. Bank of America reissued an “underperform” rating and set a $60.00 price target (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $82.25.

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.