Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey Sells 500 Shares

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $44.18, for a total value of $22,090.00. Following the sale, the executive vice president now owns 24,936 shares of the company’s stock, valued at approximately $1,101,672.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Concentrix Trading Down 0.1 %

Shares of CNXC stock opened at $44.43 on Wednesday. Concentrix Co. has a twelve month low of $43.91 and a twelve month high of $106.10. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.61 and a beta of 0.58. The company’s 50-day moving average price is $59.45 and its 200-day moving average price is $61.56. 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 posted its 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 firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The business’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.54 earnings per share. As a group, equities analysts predict that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be paid a dividend of $0.333 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.33 annualized dividend and a yield of 3.00%. Concentrix’s dividend payout ratio (DPR) is 43.18%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Baird R W raised Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group dropped their target price on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, September 26th. Barrington Research decreased their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird started coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target on the stock. Finally, Bank of America cut their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $79.00.

Hedge Funds Weigh In On Concentrix

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in Concentrix in the second quarter valued at about $1,445,000. Natixis purchased a new stake in shares of Concentrix in the 1st quarter valued at approximately $542,000. Tweedy Browne Co LLC lifted its holdings in shares of Concentrix by 21.6% in the 1st quarter. Tweedy Browne Co LLC now owns 173,338 shares of the company’s stock worth $11,478,000 after acquiring an additional 30,798 shares during the last quarter. Sanders Morris Harris LLC purchased a new position in shares of Concentrix during the 3rd quarter worth approximately $2,562,000. Finally, Copeland Capital Management LLC increased its holdings in Concentrix by 1.8% in the 3rd quarter. Copeland Capital Management LLC now owns 1,003,375 shares of the company’s stock valued at $51,423,000 after purchasing an additional 17,653 shares during the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

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.