Concentrix Co. (NASDAQ:CNXC) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Concentrix Co. (NASDAQ:CNXC) have earned an average rating of “Buy” from the six brokerages that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $79.00.

A number of analysts have weighed in on the company. Canaccord Genuity Group decreased their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Robert W. Baird started coverage on Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target for the company. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Barrington Research cut their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Finally, Bank of America reduced their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th.

Concentrix Stock Performance

Shares of CNXC opened at $44.52 on Monday. The company’s 50 day simple moving average is $60.41 and its 200-day simple moving average is $61.77. The firm has a market cap of $2.91 billion, a PE ratio of 10.31, a price-to-earnings-growth ratio of 0.62 and a beta of 0.58. Concentrix has a 12-month low of $44.18 and a 12-month high of $106.10. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18.

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

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be issued a $0.333 dividend. The ex-dividend date is Friday, October 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a yield of 2.99%. Concentrix’s dividend payout ratio (DPR) is 30.79%.

Insider Transactions at Concentrix

In related news, CEO Christopher A. Caldwell sold 9,823 shares of Concentrix stock in a transaction on Friday, October 4th. The stock was sold at an average price of $52.70, for a total transaction of $517,672.10. Following the completion of the transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of the company’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares of the company’s stock, valued at $12,745,020.70. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.00. Following the transaction, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,767 shares of company stock valued at $626,855 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Concentrix

A number of large investors have recently made changes to their positions in CNXC. Hexagon Capital Partners LLC lifted its holdings in Concentrix by 2,992.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock valued at $25,000 after purchasing an additional 389 shares in the last quarter. GAMMA Investing LLC raised its holdings in Concentrix by 1,005.0% in the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after acquiring an additional 402 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Concentrix by 54.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after purchasing an additional 285 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Concentrix during the second quarter worth $68,000. Finally, Quarry LP grew its position in shares of Concentrix by 769.9% in the second quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after purchasing an additional 1,101 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.