MetLife Investment Management LLC Purchases 2,004 Shares of Concentrix Co. (NASDAQ:CNXC)

MetLife Investment Management LLC lifted its position in Concentrix Co. (NASDAQ:CNXC) by 8.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,313 shares of the company’s stock after acquiring an additional 2,004 shares during the quarter. MetLife Investment Management LLC’s holdings in Concentrix were worth $1,139,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CNXC. Natixis purchased a new position in shares of Concentrix during the fourth quarter valued at approximately $601,000. First Trust Advisors LP boosted its holdings in Concentrix by 34.0% during the 4th quarter. First Trust Advisors LP now owns 649,755 shares of the company’s stock valued at $28,115,000 after acquiring an additional 164,906 shares during the period. Marshall Wace LLP grew its position in Concentrix by 209.0% in the 4th quarter. Marshall Wace LLP now owns 593,043 shares of the company’s stock valued at $25,661,000 after acquiring an additional 401,133 shares during the last quarter. Jump Financial LLC increased its stake in Concentrix by 145.2% in the fourth quarter. Jump Financial LLC now owns 86,915 shares of the company’s stock worth $3,761,000 after purchasing an additional 51,471 shares during the period. Finally, Guggenheim Capital LLC bought a new stake in shares of Concentrix during the fourth quarter worth $483,000. 90.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CNXC has been the topic of several recent analyst reports. Bank of America raised their price target on shares of Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research note on Thursday, March 27th. 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 research note on Monday, March 24th. Finally, Canaccord Genuity Group dropped their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $65.75.

Concentrix Trading Down 0.8 %

NASDAQ:CNXC opened at $50.63 on Friday. The firm has a 50-day simple moving average of $47.99 and a 200-day simple moving average of $46.37. Concentrix Co. has a one year low of $36.28 and a one year high of $77.00. The firm has a market cap of $3.23 billion, a P/E ratio of 13.65, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42.

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

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.63%. Concentrix’s dividend payout ratio (DPR) is presently 33.33%.

Insiders Place Their Bets

In related news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the transaction, the executive vice president now directly owns 39,130 shares of the company’s stock, valued at $2,164,280.30. This represents a 1.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Christopher A. Caldwell purchased 1,000 shares of the stock in a transaction on Monday, April 21st. The stock was 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 owns 303,362 shares of the company’s stock, valued at approximately $13,954,652. This represents a 0.33 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 30,444 shares of company stock worth $1,481,628. 3.20% of the stock is owned by corporate insiders.

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.