Concentrix Co. (NASDAQ:CNXC) Receives $84.80 Average Price Target from Analysts

Concentrix Co. (NASDAQ:CNXC) has received a consensus rating of “Hold” from the five analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $84.80.

Several analysts recently issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $84.00 price target on shares of Concentrix in a research report on Friday, June 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $125.00 price objective on shares of Concentrix in a report on Thursday, June 27th. Finally, Scotiabank cut their price objective on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th.

Concentrix Stock Down 0.2 %

CNXC stock opened at $66.38 on Friday. The stock has a market capitalization of $4.34 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 0.68 and a beta of 0.61. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21. Concentrix has a 12 month low of $53.89 and a 12 month high of $106.10. The firm has a 50-day moving average price of $64.64 and a 200-day moving average price of $65.68.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.06. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter last year, the business earned $2.50 EPS. The company’s revenue was up 47.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Concentrix will post 10.8 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, July 26th were given a $0.303 dividend. This represents a $1.21 annualized dividend and a dividend yield of 1.83%. The ex-dividend date of this dividend was Friday, July 26th. Concentrix’s dividend payout ratio (DPR) is 28.01%.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $67.23, for a total transaction of $26,892.00. Following the transaction, the executive vice president now directly owns 29,727 shares in the company, valued at $1,998,546.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 1,200 shares of company stock worth $76,688. Insiders own 3.00% of the company’s stock.

Institutional Trading of Concentrix

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its stake in Concentrix by 78.3% in the fourth quarter. Russell Investments Group Ltd. now owns 102,454 shares of the company’s stock worth $10,062,000 after acquiring an additional 44,979 shares during the period. SG Americas Securities LLC purchased a new position in Concentrix during the second quarter valued at $1,445,000. Valley Wealth Managers Inc. lifted its position in Concentrix by 113.2% during the fourth quarter. Valley Wealth Managers Inc. now owns 205,530 shares of the company’s stock valued at $20,185,000 after buying an additional 109,129 shares during the period. Vanguard Group Inc. lifted its position in Concentrix by 23.9% during the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after buying an additional 1,034,546 shares during the period. Finally, Natixis purchased a new position in Concentrix during the first quarter valued at $542,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.