Concentrix Co. (NASDAQ:CNXC - Get Free Report) EVP Cormac J. Twomey sold 400 shares of the firm's stock in a transaction on Monday, April 29th. The stock was sold at an average price of $55.01, for a total transaction of $22,004.00. Following the transaction, the executive vice president now directly owns 30,927 shares of the company's stock, valued at $1,701,294.27. The sale was disclosed in a document filed with the SEC, which is available through this link.
Concentrix Price Performance
Shares of NASDAQ:CNXC opened at $55.30 on Thursday. Concentrix Co. has a 12 month low of $53.89 and a 12 month high of $106.10. The stock has a market cap of $3.65 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.63 and a beta of 0.56. The stock's 50 day moving average price is $63.73 and its 200 day moving average price is $80.61. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.56.
Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The business had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. Equities research analysts anticipate that Concentrix Co. will post 11.03 earnings per share for the current fiscal year.
Concentrix Increases Dividend
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The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be given a $0.303 dividend. This is a positive change from Concentrix's previous quarterly dividend of $0.30. The ex-dividend date is Thursday, April 25th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.19%. Concentrix's dividend payout ratio (DPR) is 24.95%.
Analyst Ratings Changes
CNXC has been the topic of a number of research analyst reports. Barrington Research reduced their target price on Concentrix from $121.00 to $84.00 and set an "outperform" rating on the stock in a report on Wednesday, March 27th. Scotiabank dropped 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 note on Monday. Finally, Bank of America reiterated an "underperform" rating and set a $60.00 price objective (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $74.75.
View Our Latest Research Report on Concentrix
Hedge Funds Weigh In On Concentrix
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its stake in Concentrix by 9.1% in the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company's stock valued at $145,000 after buying an additional 123 shares during the period. Ieq Capital LLC raised its stake in shares of Concentrix by 3.3% during the 4th quarter. Ieq Capital LLC now owns 4,920 shares of the company's stock worth $483,000 after purchasing an additional 157 shares in the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Concentrix by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,366 shares of the company's stock valued at $350,000 after buying an additional 168 shares during the last quarter. Arizona State Retirement System increased its holdings in Concentrix by 1.4% in the third quarter. Arizona State Retirement System now owns 12,598 shares of the company's stock worth $1,009,000 after buying an additional 168 shares during the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in Concentrix by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company's stock valued at $1,912,000 after acquiring an additional 190 shares during the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.
Concentrix Company Profile
(
Get Free Report)
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.
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