Concentrix Co. (NASDAQ:CNXC) Given Consensus Rating of “Hold” by Brokerages

Shares of Concentrix Co. (NASDAQ:CNXC) have been given a consensus recommendation of “Hold” by the five research firms that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $84.80.

CNXC has been the topic of several recent research reports. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of Concentrix in a research note on Thursday, June 27th. Bank of America reaffirmed an “underperform” rating and issued a $60.00 target price (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Scotiabank reduced their target price 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, April 29th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $84.00 target price on shares of Concentrix in a research note on Friday, June 21st.

Concentrix Stock Up 0.0 %

CNXC opened at $65.98 on Thursday. Concentrix has a twelve month low of $53.89 and a twelve month high of $106.10. The firm’s 50-day simple moving average is $60.93 and its 200-day simple moving average is $72.55. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.56 and a current ratio of 1.54. The firm has a market cap of $4.35 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.68 and a beta of 0.60.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.06. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.35 billion. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The company’s revenue was up 47.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 EPS. Equities research analysts anticipate that Concentrix will post 10.8 EPS for the current fiscal year.

Concentrix Dividend Announcement

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

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell purchased 900 shares of the business’s stock in a transaction that occurred on Friday, April 19th. The shares were acquired at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the transaction, the chief executive officer now directly owns 239,128 shares of the company’s stock, 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 link. In related news, CEO Christopher A. Caldwell bought 900 shares of the company’s stock in a transaction on Friday, April 19th. The shares were purchased at an average cost of $54.59 per share, for a total transaction 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 purchase was disclosed in a filing with the SEC, which is available at this link. Also, EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $63.21, for a total transaction of $25,284.00. Following the sale, the executive vice president now owns 30,127 shares in the company, valued at $1,904,327.67. The disclosure for this sale can be found here. Insiders have sold 1,200 shares of company stock worth $71,800 in the last ninety days. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Concentrix

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC grew its stake in shares of Concentrix by 1,005.0% during the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock worth $28,000 after acquiring an additional 402 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Concentrix by 381.7% during the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock worth $34,000 after acquiring an additional 271 shares in the last quarter. Pineridge Advisors LLC bought a new position in shares of Concentrix during the 4th quarter worth approximately $35,000. Parkside Financial Bank & Trust grew its stake in shares of Concentrix by 146.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after acquiring an additional 374 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Concentrix by 29.8% during the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $113,000 after acquiring an additional 264 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.