Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey Sells 500 Shares

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the business’s stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total value of $27,655.00. Following the transaction, the executive vice president now directly owns 39,130 shares of the company’s stock, valued at approximately $2,164,280.30. This represents a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Concentrix Stock Up 0.3 %

Concentrix stock opened at $54.21 on Thursday. The company has a market capitalization of $3.49 billion, a P/E ratio of 14.61, a PEG ratio of 0.63 and a beta of 0.69. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. Concentrix Co. has a fifty-two week low of $36.28 and a fifty-two week high of $77.00. The stock has a 50-day simple moving average of $48.34 and a 200-day simple moving average of $47.33.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $2.57 earnings per share. Equities research analysts expect that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be issued a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.46%. Concentrix’s payout ratio is 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Barrington Research dropped their target price on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Finally, Canaccord Genuity Group decreased their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Concentrix has a consensus rating of “Buy” and a consensus price target of $69.60.

Hedge Funds Weigh In On Concentrix

A number of hedge funds and other institutional investors have recently made changes to their positions in CNXC. Steward Partners Investment Advisory LLC lifted its position in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after acquiring an additional 286 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Concentrix by 159.6% during the fourth 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. Parkside Financial Bank & Trust lifted its holdings in shares of Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after purchasing an additional 444 shares during the period. KBC Group NV grew its position in Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after buying an additional 815 shares during the last quarter. Finally, Quarry LP increased its stake in Concentrix by 843.9% in the 4th quarter. Quarry LP now owns 2,539 shares of the company’s stock valued at $110,000 after buying an additional 2,270 shares during the period. Hedge funds and other 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.