Concentrix Co. (NASDAQ:CNXC) Given Average Rating of “Hold” by Analysts

Concentrix Co. (NASDAQ:CNXC) has earned an average rating of “Hold” from the five ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year target price among analysts that have covered the stock in the last year is $84.80.

Several equities analysts recently commented on CNXC shares. Bank of America restated an “underperform” rating and set a $60.00 target price (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. Barrington Research restated an “outperform” rating and set a $84.00 target price on shares of Concentrix in a research report on Friday, June 21st. Scotiabank reduced their target price on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research report on Monday, April 29th. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $125.00 price target on shares of Concentrix in a research note on Thursday, June 27th.

Concentrix Stock Performance

NASDAQ:CNXC opened at $65.98 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. The business has a fifty day simple moving average of $60.93 and a two-hundred day simple moving average of $72.55. Concentrix has a 1 year low of $53.89 and a 1 year high of $106.10. The company has a market capitalization of $4.35 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.68 and a beta of 0.60.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.06. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The firm’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 earnings per share. On average, analysts expect that Concentrix will post 10.8 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 26th will be paid a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 1.84%. The ex-dividend date is Friday, July 26th. Concentrix’s dividend payout ratio (DPR) is currently 28.01%.

Insiders Place Their Bets

In related news, CEO Christopher A. Caldwell bought 900 shares of the stock in a transaction dated Friday, April 19th. The stock was bought at an average price of $54.59 per share, with a total value of $49,131.00. Following the purchase, the chief executive officer now owns 239,128 shares in the company, valued at approximately $13,053,997.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Christopher A. Caldwell bought 900 shares of the stock in a transaction dated Friday, April 19th. The stock was bought at an average price of $54.59 per share, with a total value of $49,131.00. Following the purchase, the chief executive officer now owns 239,128 shares in the company, valued at approximately $13,053,997.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $63.21, for a total value of $25,284.00. Following the completion of the sale, the executive vice president now directly owns 30,127 shares of the company’s stock, valued at approximately $1,904,327.67. The disclosure for this sale can be found here. Insiders sold a total of 1,200 shares of company stock valued at $71,800 over the last 90 days. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Horizon Advisors Inc. raised its position in Concentrix by 381.7% during the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the last quarter. Pineridge Advisors LLC bought a new position in Concentrix during the 4th quarter valued at approximately $35,000. GAMMA Investing LLC raised its position in Concentrix by 1,005.0% during the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after purchasing an additional 402 shares during the last quarter. Parkside Financial Bank & Trust raised its position in Concentrix by 146.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after purchasing an additional 374 shares during the last quarter. Finally, Blue Trust Inc. raised 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 purchasing an additional 264 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

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.