Insider Buying: Concentrix (NASDAQ:CNXC) CFO Purchases 2,500 Shares of Stock

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) CFO Andre Valentine purchased 2,500 shares of the stock in a transaction dated Thursday, April 9th. The shares were bought at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the acquisition, the chief financial officer owned 89,066 shares in the company, valued at $2,489,394.70. This represents a 2.89% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Concentrix Trading Up 2.8%

• Concentrix: High Debt and Struggling Margins

Concentrix stock opened at $28.50 on Friday. The company's fifty day simple moving average is $31.89 and its 200-day simple moving average is $38.26. The company has a quick ratio of 1.40, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. Concentrix Corporation has a 12 month low of $24.27 and a 12 month high of $62.14. The stock has a market cap of $1.74 billion, a P/E ratio of -1.32, a P/E/G ratio of 0.35 and a beta of 0.50.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The company had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter in the prior year, the firm earned $2.79 earnings per share. The company's revenue was up 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Friday, April 24th. Concentrix's payout ratio is currently -6.68%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CNXC shares. Robert W. Baird lowered their price target on shares of Concentrix from $52.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, March 25th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Weiss Ratings lowered shares of Concentrix from a "hold (c-)" rating to a "sell (d)" rating in a research note on Thursday, January 29th. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $80.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th. Finally, Barrington Research reduced their price objective on shares of Concentrix from $62.00 to $38.00 and set an "outperform" rating for the company in a research note on Wednesday, March 25th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.50.

Get Our Latest Report on Concentrix

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC lifted its position in Concentrix by 1.8% during the 3rd quarter. AQR Capital Management LLC now owns 4,380,821 shares of the company's stock worth $202,175,000 after acquiring an additional 75,352 shares during the last quarter. Pzena Investment Management LLC lifted its position in Concentrix by 32.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company's stock worth $121,713,000 after acquiring an additional 714,604 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Concentrix by 28.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,491,270 shares of the company's stock worth $103,588,000 after acquiring an additional 551,778 shares during the last quarter. State Street Corp lifted its position in Concentrix by 8.7% during the 2nd quarter. State Street Corp now owns 1,622,854 shares of the company's stock worth $85,776,000 after acquiring an additional 130,529 shares during the last quarter. Finally, Invenomic Capital Management LP lifted its position in Concentrix by 6.3% during the 4th quarter. Invenomic Capital Management LP now owns 874,241 shares of the company's stock worth $36,351,000 after acquiring an additional 51,896 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Company Profile

(Get Free Report)

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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