Concentrix (NASDAQ:CNXC) Given “Outperform” Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Concentrix (NASDAQ:CNXC) in a research note released on Friday, Benzinga reports. The brokerage currently has a $84.00 price objective on the stock.

Several other brokerages have also issued reports on CNXC. Bank of America raised Concentrix from an underperform rating to a neutral rating and raised their target price for the company from $65.00 to $85.00 in a research report on Wednesday, August 28th. Canaccord Genuity Group reiterated a buy rating and set a $125.00 price target on shares of Concentrix in a research note on Thursday, June 27th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $94.75.

Concentrix Trading Up 0.3 %

NASDAQ CNXC opened at $63.55 on Friday. The firm has a market capitalization of $4.15 billion, a P/E ratio of 14.71, a PEG ratio of 0.70 and a beta of 0.61. The business has a fifty day simple moving average of $68.36 and a 200 day simple moving average of $63.79. Concentrix has a 12 month low of $53.89 and a 12 month high of $106.10. 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 (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.06. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the firm posted $2.50 EPS. Concentrix’s quarterly revenue was up 47.4% compared to the same quarter last year. On average, analysts predict that Concentrix will post 10.8 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 6th. Investors of record on Friday, July 26th were issued a dividend of $0.303 per share. The ex-dividend date was Friday, July 26th. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.91%. Concentrix’s dividend payout ratio is 28.01%.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was 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 of the company’s stock, valued at approximately $1,998,546.21. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last three months, insiders have sold 1,200 shares of company stock valued at $82,028. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Concentrix

A number of large investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina grew its position in shares of Concentrix by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company’s stock worth $1,912,000 after buying an additional 190 shares during the last quarter. State of Michigan Retirement System grew its position in shares of Concentrix by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 11,591 shares of the company’s stock worth $768,000 after buying an additional 200 shares during the last quarter. Capital International Ltd. CA grew its position in shares of Concentrix by 1.4% in the 4th quarter. Capital International Ltd. CA now owns 15,368 shares of the company’s stock worth $1,509,000 after buying an additional 218 shares during the last quarter. SummerHaven Investment Management LLC grew its position in shares of Concentrix by 2.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company’s stock worth $548,000 after buying an additional 248 shares during the last quarter. Finally, First Horizon Advisors Inc. grew its position in shares of Concentrix by 54.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after buying an additional 285 shares during the last quarter. 90.34% of the stock is currently 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.