Concentrix Co. (NASDAQ:CNXC) Director Acquires $25,110.00 in Stock

Concentrix Co. (NASDAQ:CNXC) Director Kathryn Hayley acquired 500 shares of Concentrix stock in a transaction on Wednesday, January 22nd. The stock was acquired at an average price of $50.22 per share, with a total value of $25,110.00. Following the purchase, the director now directly owns 3,034 shares in the company, valued at approximately $152,367.48. This trade represents a 19.73 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $52.54 on Friday. The company has a 50-day moving average price of $44.66 and a two-hundred day moving average price of $54.33. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $95.04. The company has a quick ratio of 1.57, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm has a market capitalization of $3.41 billion, a PE ratio of 14.16, a P/E/G ratio of 0.70 and a beta of 0.63.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $3.36 EPS. Equities analysts forecast that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st will be given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.53%. The ex-dividend date is Friday, January 31st. Concentrix’s dividend payout ratio is presently 35.85%.

Institutional Investors Weigh In On Concentrix

A number of institutional investors and hedge funds have recently modified their holdings of CNXC. GAMMA Investing LLC increased its holdings in Concentrix by 64.9% during the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock worth $37,000 after acquiring an additional 287 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Concentrix during the 2nd quarter valued at $68,000. Quarry LP increased its holdings in shares of Concentrix by 769.9% in the second quarter. Quarry LP now owns 1,244 shares of the company’s stock worth $79,000 after purchasing an additional 1,101 shares during the period. KBC Group NV raised its position in shares of Concentrix by 68.3% in the fourth quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after buying an additional 815 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Concentrix during the third quarter valued at $146,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNXC has been the subject of several research reports. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Canaccord Genuity Group reduced their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Robert W. Baird began coverage on shares of Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $75.00.

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.