Concentrix Co. (NASDAQ:CNXC) Receives $84.80 Average PT from Brokerages

Shares of Concentrix Co. (NASDAQ:CNXC) 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.

Concentrix Price Performance

CNXC opened at $63.78 on Thursday. The stock has a market cap of $4.21 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.68 and a beta of 0.60. Concentrix has a 12 month low of $53.89 and a 12 month high of $106.10. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21. The company has a fifty day simple moving average of $60.56 and a 200 day simple moving average of $72.81.

Concentrix (NASDAQ:CNXC) 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.