Copeland Capital Management LLC Raises Stock Holdings in Concentrix Co. (NASDAQ:CNXC)

Copeland Capital Management LLC lifted its holdings in Concentrix Co. (NASDAQ:CNXC) by 1.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,003,375 shares of the company’s stock after purchasing an additional 17,653 shares during the quarter. Copeland Capital Management LLC’s holdings in Concentrix were worth $51,423,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Concentrix by 23.9% in the 4th quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock worth $526,788,000 after purchasing an additional 1,034,546 shares during the period. Impactive Capital LP grew its stake in Concentrix by 13.0% in the 1st quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after acquiring an additional 443,045 shares in the last quarter. Capital International Investors increased its position in shares of Concentrix by 0.3% during the first quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock worth $167,256,000 after acquiring an additional 7,333 shares during the period. Pzena Investment Management LLC increased its holdings in Concentrix by 46.6% during the 2nd quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock worth $93,965,000 after purchasing an additional 471,699 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of Concentrix in the second quarter valued at about $62,738,000. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Down 4.0 %

Shares of CNXC opened at $47.12 on Tuesday. The stock’s 50 day moving average is $62.04 and its two-hundred day moving average is $62.19. Concentrix Co. has a 12 month low of $45.61 and a 12 month high of $106.10. The firm has a market cap of $3.05 billion, a P/E ratio of 15.30, a PEG ratio of 0.67 and a beta of 0.58. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the prior year, the business posted $2.54 earnings per share. The company’s quarterly revenue was up 46.2% compared to the same quarter last year. Analysts predict that Concentrix Co. will post 10.18 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Friday, October 25th will be given a dividend of $0.333 per share. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a yield of 2.83%. Concentrix’s payout ratio is presently 39.29%.

Analysts Set New Price Targets

CNXC has been the subject of a number of analyst reports. Baird R W upgraded Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group reduced their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Barrington Research decreased their price objective on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Robert W. Baird initiated coverage on shares of Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. Finally, Bank of America dropped their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Concentrix has an average rating of “Buy” and an average price target of $79.00.

Insider Buying and Selling at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction on Friday, October 4th. The stock was sold at an average price of $52.70, for a total transaction of $517,672.10. Following the transaction, the chief executive officer now owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the transaction, the chief executive officer now owns 241,841 shares of the company’s stock, valued at $12,745,020.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the completion of the sale, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at $2,188,674.01. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,167 shares of company stock worth $653,747. Insiders own 3.10% of the company’s stock.

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.