Concentrix’s (CNXC) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Concentrix (NASDAQ:CNXC) in a research report report published on Thursday morning, Benzinga reports. They currently have a $125.00 target price on the stock.

Other analysts have also issued research reports about the stock. Barrington Research reissued an outperform rating and issued a $84.00 price target on shares of Concentrix in a research report on Friday, June 21st. Scotiabank lowered their price target on shares of Concentrix from $120.00 to $85.00 and set a sector outperform rating on the stock in a research report on Monday, April 29th. Finally, Bank of America reissued an underperform rating and issued a $60.00 price target (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of Hold and a consensus target price of $84.80.

Concentrix Stock Up 0.8 %

CNXC opened at $63.28 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.74 and a beta of 0.60. Concentrix has a twelve month low of $53.89 and a twelve month high of $106.10. The company’s 50-day moving average price is $60.39 and its two-hundred day moving average price is $73.04.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.06. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The company’s quarterly revenue was up 47.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 earnings per share. As a group, equities analysts expect that Concentrix will post 10.62 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 26th will be issued a dividend of $0.303 per share. This represents a $1.21 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend is Friday, July 26th. Concentrix’s dividend payout ratio (DPR) is presently 28.01%.

Insider Buying and Selling

In other news, CEO Christopher A. Caldwell bought 900 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were acquired at an average price of $54.59 per share, with a total value of $49,131.00. Following the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Concentrix

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. boosted its position in Concentrix by 78.3% during the 4th quarter. Russell Investments Group Ltd. now owns 102,454 shares of the company’s stock valued at $10,062,000 after buying an additional 44,979 shares during the period. Phocas Financial Corp. purchased a new stake in Concentrix during the 4th quarter valued at $3,604,000. Copeland Capital Management LLC purchased a new stake in Concentrix during the 4th quarter valued at $40,339,000. Blue Trust Inc. boosted its position in Concentrix by 29.8% during the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after buying an additional 264 shares during the period. Finally, Valley Wealth Managers Inc. boosted its position in Concentrix by 113.2% during the 4th quarter. Valley Wealth Managers Inc. now owns 205,530 shares of the company’s stock valued at $20,185,000 after buying an additional 109,129 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.