Concentrix Co. (CNXC) To Go Ex-Dividend on January 31st

Concentrix Co. (NASDAQ:CNXC) announced a quarterly dividend on Wednesday, January 15th,Wall Street Journal reports. Shareholders of record on Friday, January 31st will be given a dividend of 0.3328 per share on Tuesday, February 11th. This represents a $1.33 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date is Friday, January 31st.

Concentrix has raised its dividend payment by an average of 70.6% per year over the last three years. Concentrix has a dividend payout ratio of 10.6% meaning its dividend is sufficiently covered by earnings.

Concentrix Trading Up 4.0 %

Shares of NASDAQ:CNXC opened at $55.64 on Wednesday. Concentrix has a 52-week low of $36.28 and a 52-week high of $93.32. The stock’s 50-day simple moving average is $45.34 and its two-hundred day simple moving average is $53.96. The stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.70 and a beta of 0.63. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.57 and a current ratio of 1.42.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.25. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $3.36 earnings per share. Analysts expect that Concentrix will post 10.11 EPS for the current year.

Insider Buying and Selling at Concentrix

In other Concentrix news, Director Kathryn Hayley acquired 500 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was acquired at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at $152,367.48. This represents a 19.73 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on CNXC shares. Canaccord Genuity Group reduced their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Robert W. Baird began coverage on Concentrix in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Concentrix has an average rating of “Buy” and an average price target of $75.00.

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.