Concentrix Co. (NASDAQ:CNXC) Receives Average Rating of “Hold” from Analysts

Shares of Concentrix Co. (NASDAQ:CNXC) have been assigned an average rating of “Hold” from the five analysts that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $84.80.

CNXC has been the topic of a number of research reports. Canaccord Genuity Group restated a “buy” rating and set a $125.00 price objective on shares of Concentrix in a research report on Thursday, June 27th. Barrington Research restated an “outperform” rating and set a $84.00 price objective on shares of Concentrix in a research report on Friday, June 21st. Finally, Scotiabank lowered their price objective on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a research report on Monday, April 29th.

Concentrix Stock Up 1.0 %

Shares of CNXC stock opened at $67.43 on Monday. Concentrix has a 12 month low of $53.89 and a 12 month high of $106.10. The firm has a market cap of $4.41 billion, a PE ratio of 15.61, a price-to-earnings-growth ratio of 0.71 and a beta of 0.60. The stock has a 50 day moving average of $63.49 and a 200-day moving average of $68.78. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.63 by $0.06. The company had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.35 billion. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The company’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 earnings per share. On average, equities analysts predict that Concentrix will post 10.8 EPS for the current year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 26th will be given a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Friday, July 26th. Concentrix’s dividend payout ratio (DPR) is 28.01%.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the company’s 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 sale, the executive vice president now directly owns 30,127 shares in the company, valued at $1,904,327.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Concentrix

Large investors have recently made changes to their positions in the business. Russell Investments Group Ltd. grew its holdings in shares of Concentrix by 78.3% during the fourth quarter. Russell Investments Group Ltd. now owns 102,454 shares of the company’s stock worth $10,062,000 after purchasing an additional 44,979 shares during the last quarter. Phocas Financial Corp. bought a new stake in shares of Concentrix during the fourth quarter worth $3,604,000. Copeland Capital Management LLC bought a new stake in shares of Concentrix during the fourth quarter worth $40,339,000. Blue Trust Inc. grew its holdings in shares of Concentrix by 29.8% during the fourth quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock worth $113,000 after purchasing an additional 264 shares during the last quarter. Finally, Valley Wealth Managers Inc. grew its holdings in shares of Concentrix by 113.2% during the fourth quarter. Valley Wealth Managers Inc. now owns 205,530 shares of the company’s stock worth $20,185,000 after purchasing an additional 109,129 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.