Concentrix (NASDAQ:CNXC) CEO Christopher Caldwell Buys 1,000 Shares

Concentrix Corporation (NASDAQ:CNXC) CEO Christopher Caldwell acquired 1,000 shares of Concentrix stock in a transaction that occurred on Friday, October 31st. The stock was acquired at an average cost of $40.00 per share, for a total transaction of $40,000.00. Following the purchase, the chief executive officer owned 287,661 shares of the company’s stock, valued at $11,506,440. The trade was a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Concentrix Stock Performance

Shares of Concentrix stock opened at $39.60 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $66.00. The stock has a market cap of $2.47 billion, a price-to-earnings ratio of 8.37, a P/E/G ratio of 0.58 and a beta of 0.50. The company’s fifty day moving average is $49.33 and its 200 day moving average is $52.18.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 4th. Investors of record on Friday, October 24th will be paid a $0.36 dividend. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, October 24th. Concentrix’s payout ratio is presently 30.44%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CNXC shares. Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 price target on shares of Concentrix in a research report on Tuesday, September 23rd. Barrington Research reaffirmed an “outperform” rating and set a $62.00 price target on shares of Concentrix in a research report on Wednesday, September 24th. Weiss Ratings raised shares of Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Robert W. Baird cut their price target on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Concentrix has an average rating of “Moderate Buy” and a consensus target price of $66.25.

Hedge Funds Weigh In On Concentrix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. boosted its position in shares of Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after purchasing an additional 522 shares in the last quarter. Quent Capital LLC bought a new position in shares of Concentrix during the 3rd quarter worth about $29,000. IFP Advisors Inc boosted its position in shares of Concentrix by 473.8% during the 2nd quarter. IFP Advisors Inc now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 578 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock worth $47,000 after purchasing an additional 444 shares in the last quarter. Finally, True Wealth Design LLC boosted its position in shares of Concentrix by 39.3% during the 2nd quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock worth $61,000 after purchasing an additional 328 shares in 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.