Concentrix (NASDAQ:CNXC) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Concentrix (NASDAQ:CNXC) from a buy rating to a hold rating in a research note released on Saturday.

Several other brokerages also recently weighed in on CNXC. Weiss Ratings downgraded shares of Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, January 29th. Barrington Research dropped their target price on shares of Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Canaccord Genuity Group cut their price target on shares of Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Robert W. Baird reduced their price target on shares of Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $48.50.

Concentrix Trading Up 1.0%

CNXC opened at $26.68 on Friday. Concentrix has a one year low of $24.27 and a one year high of $62.14. The company has a market cap of $1.64 billion, a P/E ratio of -1.24, a PEG ratio of 0.33 and a beta of 0.50. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.40 and a current ratio of 1.18. The business’s 50-day simple moving average is $34.05 and its 200-day simple moving average is $39.59.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.04). The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.Concentrix’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.79 EPS. As a group, equities research analysts expect that Concentrix will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, April 24th. Concentrix’s dividend payout ratio is presently -6.68%.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell bought 1,000 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were acquired at an average cost of $37.07 per share, with a total value of $37,070.00. Following the acquisition, the chief executive officer directly owned 362,075 shares of the company’s stock, valued at $13,422,120.25. The trade was a 0.28% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC increased its stake in Concentrix by 60.1% in the fourth quarter. Hsbc Holdings PLC now owns 59,134 shares of the company’s stock valued at $2,459,000 after purchasing an additional 22,187 shares during the period. Corient Private Wealth LLC acquired a new stake in shares of Concentrix during the fourth quarter worth about $289,000. Pacer Advisors Inc. boosted its stake in shares of Concentrix by 73.2% during the fourth quarter. Pacer Advisors Inc. now owns 16,099 shares of the company’s stock worth $669,000 after buying an additional 6,804 shares during the period. Invesco Ltd. grew its holdings in shares of Concentrix by 16.3% during the fourth quarter. Invesco Ltd. now owns 478,790 shares of the company’s stock worth $19,908,000 after buying an additional 67,036 shares during the last quarter. Finally, SummitTX Capital L.P. grew its holdings in shares of Concentrix by 268.0% during the fourth quarter. SummitTX Capital L.P. now owns 45,780 shares of the company’s stock worth $1,904,000 after buying an additional 33,340 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

About Concentrix

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.