Concentrix Corporation (NASDAQ:CNXC) Receives $48.50 Consensus PT from Brokerages

Concentrix Corporation (NASDAQ:CNXC) has earned an average recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $48.50.

A number of analysts have recently commented on the stock. Canaccord Genuity Group dropped their target price on shares of Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th. Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. 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 report on Wednesday, March 25th. Wall Street Zen cut shares of Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Robert W. Baird lowered their price target on Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th.

Insider Activity

In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of Concentrix stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the transaction, the insider owned 2,773,667 shares of the company’s stock, valued at $61,714,090.75. The trade was a 68.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Andre S. Valentine purchased 2,500 shares of the stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $27.95 per share, with a total value of $69,875.00. Following the transaction, the chief financial officer owned 89,066 shares in the company, valued at $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 0.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Concentrix

Several large investors have recently modified their holdings of CNXC. Huntington National Bank raised its position in shares of Concentrix by 6,011.1% in the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock worth $25,000 after purchasing an additional 541 shares during the last quarter. Larson Financial Group LLC raised its position in Concentrix by 224.9% in the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after buying an additional 479 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Concentrix by 532.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after buying an additional 522 shares during the last quarter. Rothschild Investment LLC raised its position in Concentrix by 14,980.0% in the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock worth $35,000 after buying an additional 749 shares during the last quarter. Finally, Global Retirement Partners LLC raised its position in Concentrix by 1,032.5% in the 4th quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock worth $36,000 after buying an additional 795 shares during the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Concentrix Trading Down 0.3%

Shares of CNXC opened at $26.20 on Friday. The firm’s 50-day moving average price is $26.50 and its 200-day moving average price is $33.01. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of -1.22, a PEG ratio of 0.33 and a beta of 0.43. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.43. Concentrix has a 1-year low of $22.05 and a 1-year high of $62.14.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm posted $2.79 EPS. The business’s quarterly revenue was up 5.4% on a year-over-year basis. Sell-side analysts anticipate that Concentrix will post 10.42 EPS for the current year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Friday, April 24th. Concentrix’s payout ratio is currently -6.68%.

Concentrix Company Profile

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.