Concentrix Co. (NASDAQ:CNXC) Receives Average Rating of “Buy” from Brokerages

Concentrix Co. (NASDAQ:CNXC) has been given an average rating of “Buy” by the six analysts that are currently covering the company, MarketBeat reports. 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 on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $75.00.

Separately, Canaccord Genuity Group lowered their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th.

Concentrix Stock Performance

CNXC opened at $44.63 on Friday. The firm has a 50 day moving average of $47.48 and a two-hundred day moving average of $50.50. The firm has a market capitalization of $2.87 billion, a PE ratio of 12.03, a P/E/G ratio of 0.63 and a beta of 0.69. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC) last issued 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. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the company posted $3.36 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that Concentrix will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st were given a $0.3328 dividend. The ex-dividend date was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.98%. Concentrix’s dividend payout ratio (DPR) is currently 35.85%.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the transaction, the executive vice president now owns 41,111 shares of the company’s stock, valued at approximately $2,285,771.60. This represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Concentrix

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC lifted its position in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after buying an additional 286 shares in the last quarter. Rhumbline Advisers lifted its holdings in Concentrix by 0.3% during the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after purchasing an additional 324 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after purchasing an additional 444 shares during the period. Xponance Inc. increased its stake in shares of Concentrix by 8.9% during the fourth quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after purchasing an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after purchasing an additional 490 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.