Shares of Concentrix Co. (NASDAQ:CNXC – Get Free Report) have received an average rating of “Hold” from the five analysts that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 1 year target price among analysts 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. Scotiabank dropped their price target on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Canaccord Genuity Group restated a “buy” rating and issued a $125.00 target price on shares of Concentrix in a research note on Thursday, June 27th. Barrington Research reaffirmed an “outperform” rating and set a $84.00 price target on shares of Concentrix in a research report on Friday, June 21st. Finally, Bank of America reiterated an “underperform” rating and issued a $60.00 price objective (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th.
Check Out Our Latest Research Report on CNXC
Concentrix Price Performance
Concentrix (NASDAQ:CNXC – Get Free Report) last posted its earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.06. The business 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%. Concentrix’s revenue for the quarter was up 47.4% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. On average, research analysts expect that Concentrix will post 10.62 EPS for the current year.
Concentrix Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 26th will be issued 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 1.90%. Concentrix’s payout ratio is 28.01%.
Insider Buying and Selling at Concentrix
In other news, CEO Christopher A. Caldwell bought 900 shares of the company’s 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 completion of the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at $13,053,997.52. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 3.00% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. Groupe Bruxelles Lambert bought a new stake in shares of Concentrix in the fourth quarter valued at approximately $861,662,000. Vanguard Group Inc. raised its holdings in Concentrix by 23.9% in the 4th quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after acquiring an additional 1,034,546 shares in the last quarter. Impactive Capital LP lifted its position in shares of Concentrix by 13.0% during the 1st quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock valued at $254,707,000 after acquiring an additional 443,045 shares during the period. Capital International Investors grew its holdings in shares of Concentrix by 0.3% during the 1st quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock worth $167,256,000 after purchasing an additional 7,333 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Concentrix by 5.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,397,083 shares of the company’s stock worth $137,213,000 after purchasing an additional 69,081 shares during the period. 90.34% of the stock is owned by institutional investors.
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.
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