Concentrix Corporation (NASDAQ:CNXC) Receives $66.25 Consensus PT from Brokerages

Concentrix Corporation (NASDAQ:CNXC) has received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $66.25.

Several research firms recently commented on CNXC. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Robert W. Baird decreased their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price target on shares of Concentrix in a research report on Tuesday, September 23rd. Barrington Research restated an “outperform” rating and set a $62.00 target price on shares of Concentrix in a research report on Thursday, November 20th. Finally, Weiss Ratings upgraded Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell acquired 2,000 shares of the company’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $42.03 per share, for a total transaction of $84,060.00. Following the transaction, the chief executive officer directly owned 286,661 shares in the company, valued at $12,048,361.83. This represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In the last 90 days, insiders acquired 4,000 shares of company stock valued at $169,410. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Concentrix

Hedge funds have recently modified their holdings of the stock. Osaic Holdings Inc. grew its stake in Concentrix by 13.4% in the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock valued at $118,000 after acquiring an additional 263 shares during the period. Earned Wealth Advisors LLC increased its holdings in shares of Concentrix by 6.4% in the 2nd quarter. Earned Wealth Advisors LLC now owns 4,488 shares of the company’s stock worth $237,000 after buying an additional 269 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Concentrix by 39.3% in the second quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock worth $61,000 after buying an additional 328 shares during the period. Clearstead Advisors LLC lifted its stake in Concentrix by 26.4% in the third quarter. Clearstead Advisors LLC now owns 1,650 shares of the company’s stock worth $76,000 after acquiring an additional 345 shares during the period. Finally, Parkside Financial Bank & Trust raised its holdings in Concentrix by 23.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,818 shares of the company’s stock worth $96,000 after purchasing an additional 351 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

NASDAQ:CNXC opened at $38.78 on Friday. Concentrix has a twelve month low of $31.63 and a twelve month high of $66.00. The company has a market cap of $2.41 billion, a P/E ratio of 8.20, a P/E/G ratio of 0.53 and a beta of 0.50. The company’s 50-day moving average price is $39.77 and its 200-day moving average price is $48.65. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.10.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Thursday, September 25th. The company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.10). The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Concentrix had a net margin of 3.25% and a return on equity of 16.02%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.87 EPS. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS and its Q4 2025 guidance at 2.850-2.960 EPS. On average, sell-side analysts forecast that Concentrix will post 10.11 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, October 24th. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s dividend payout ratio (DPR) is 30.44%.

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.