Concentrix Co. (NASDAQ:CNXC) EVP Sells $25,284.00 in Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction on Friday, June 28th. The stock was sold at an average price of $63.21, for a total value of $25,284.00. Following the completion of the sale, the executive vice president now directly owns 30,127 shares of the company’s stock, valued at approximately $1,904,327.67. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Concentrix Price Performance

Shares of Concentrix stock opened at $65.98 on Friday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 0.70 and a beta of 0.60. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21. The stock’s 50-day simple moving average is $61.14 and its 200-day simple moving average is $72.51. Concentrix Co. has a 52 week low of $53.89 and a 52 week high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, June 26th. The company reported $2.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.06. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.35 billion. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The company’s revenue was up 47.4% on a year-over-year basis. During the same period last year, the firm posted $2.50 EPS. As a group, analysts expect that Concentrix Co. will post 10.8 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 26th will be issued a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend is Friday, July 26th. Concentrix’s dividend payout ratio is presently 28.01%.

Analyst Ratings Changes

Several research firms have issued reports on CNXC. Scotiabank lowered their target price on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a research note on Monday, April 29th. Barrington Research restated an “outperform” rating and issued a $84.00 price target on shares of Concentrix in a research note on Friday, June 21st. Canaccord Genuity Group reissued a “buy” rating and issued a $125.00 target price on shares of Concentrix in a research report on Thursday, June 27th. Finally, Bank of America restated an “underperform” rating and set a $60.00 target price (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Concentrix presently has an average rating of “Hold” and an average target price of $84.80.

Institutional Trading of Concentrix

Large investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Concentrix by 6.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,318 shares of the company’s stock valued at $266,000 after purchasing an additional 199 shares in the last quarter. Natixis Advisors L.P. increased its stake in Concentrix by 45.7% during the third quarter. Natixis Advisors L.P. now owns 37,196 shares of the company’s stock worth $2,979,000 after acquiring an additional 11,666 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Concentrix by 65.5% during the third quarter. Tower Research Capital LLC TRC now owns 4,329 shares of the company’s stock worth $347,000 after acquiring an additional 1,713 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in Concentrix during the third quarter valued at approximately $263,000. Finally, Kennedy Capital Management LLC lifted its stake in shares of Concentrix by 2.6% in the 3rd quarter. Kennedy Capital Management LLC now owns 43,776 shares of the company’s stock valued at $3,507,000 after purchasing an additional 1,098 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

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.