Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells 500 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Friday, November 29th. The stock was sold at an average price of $45.15, for a total transaction of $22,575.00. Following the sale, the executive vice president now directly owns 24,436 shares in the company, valued at approximately $1,103,285.40. This trade represents a 2.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Concentrix Stock Down 0.1 %

CNXC stock opened at $45.47 on Wednesday. The firm has a market cap of $2.95 billion, a PE ratio of 14.76, a PEG ratio of 0.58 and a beta of 0.63. Concentrix Co. has a one year low of $36.28 and a one year high of $106.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57. The firm’s 50 day moving average price is $46.12 and its 200-day moving average price is $58.78.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.06). The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The business’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same period last year, the company earned $2.54 EPS. On average, equities research analysts anticipate that Concentrix Co. will post 10.18 EPS for the current year.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were paid a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio (DPR) is 43.18%.

Analyst Upgrades and Downgrades

CNXC has been the topic of several research reports. Robert W. Baird assumed coverage on shares of Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target on the stock. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Canaccord Genuity Group dropped their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, September 26th. Bank of America reduced their price objective on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Finally, Barrington Research dropped their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $79.00.

Institutional Investors Weigh In On Concentrix

A number of institutional investors and hedge funds have recently made changes to their positions in CNXC. Price T Rowe Associates Inc. MD increased its holdings in Concentrix by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,796 shares of the company’s stock valued at $1,908,000 after purchasing an additional 1,353 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Concentrix by 1,005.0% in the second quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after buying an additional 402 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of Concentrix by 97.9% in the 2nd quarter. First Hawaiian Bank now owns 9,000 shares of the company’s stock valued at $570,000 after buying an additional 4,452 shares during the period. Harbor Capital Advisors Inc. lifted its stake in Concentrix by 296.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 10,479 shares of the company’s stock worth $663,000 after acquiring an additional 7,833 shares in the last quarter. Finally, CWM LLC boosted its holdings in Concentrix by 119.9% during the 2nd quarter. CWM LLC now owns 6,458 shares of the company’s stock valued at $409,000 after acquiring an additional 3,521 shares during the period. 90.34% of the stock is owned by hedge funds and other 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.