Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey Sells 1,544 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.38, for a total transaction of $79,330.72. Following the completion of the sale, the executive vice president now owns 27,783 shares of the company’s stock, valued at $1,427,490.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Concentrix Price Performance

Shares of CNXC opened at $51.70 on Thursday. The business’s 50-day moving average is $66.40 and its two-hundred day moving average is $63.36. The company has a market capitalization of $3.38 billion, a P/E ratio of 11.97, a P/E/G ratio of 0.55 and a beta of 0.61. Concentrix Co. has a fifty-two week low of $50.23 and a fifty-two week high of $106.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.56 and a current ratio of 1.57.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.06). The company had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The firm’s revenue was up 46.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.54 earnings per share. Research analysts predict that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Friday, October 25th will be given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a yield of 2.58%. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio (DPR) is currently 30.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC grew its position in shares of Concentrix by 2,992.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock valued at $25,000 after acquiring an additional 389 shares during the period. GAMMA Investing LLC boosted its position in Concentrix by 1,005.0% during the second quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock worth $28,000 after purchasing an additional 402 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in Concentrix in the fourth quarter valued at approximately $35,000. First Horizon Advisors Inc. increased its position in shares of Concentrix by 54.0% in the second quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock valued at $51,000 after buying an additional 285 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Concentrix during the 2nd quarter worth approximately $68,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CNXC shares. Barrington Research dropped their price objective on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Bank of America lowered their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Finally, Canaccord Genuity Group cut their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $81.25.

Concentrix Company Profile

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.