Brokerages Set Concentrix Co. (NASDAQ:CNXC) Price Target at $75.00

Shares of Concentrix Co. (NASDAQ:CNXC - Get Free Report) have been assigned an average recommendation of "Buy" from the six research firms that are currently covering the firm, Marketbeat.com reports. 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. The average twelve-month price objective among analysts that have covered the stock in the last year is $75.00.

Separately, Canaccord Genuity Group cut their price target on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the sale, the executive vice president now directly owns 41,111 shares in the company, valued at $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by insiders.

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Institutional Trading of Concentrix

Large investors have recently added to or reduced their stakes in the business. Fuller & Thaler Asset Management Inc. increased its position in shares of Concentrix by 38.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after purchasing an additional 823,228 shares during the period. Pzena Investment Management LLC increased its position in shares of Concentrix by 60.0% during the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after purchasing an additional 880,960 shares during the period. State Street Corp increased its position in shares of Concentrix by 1.3% during the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company's stock valued at $71,850,000 after purchasing an additional 18,304 shares during the period. Copeland Capital Management LLC increased its position in shares of Concentrix by 32.9% during the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after purchasing an additional 329,831 shares during the period. Finally, Lyrical Asset Management LP increased its position in shares of Concentrix by 3.4% during the 4th quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock valued at $54,451,000 after purchasing an additional 41,540 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Performance

Shares of NASDAQ CNXC traded up $2.47 during mid-day trading on Friday, hitting $47.10. The company had a trading volume of 756,757 shares, compared to its average volume of 781,913. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.63 and a beta of 0.69. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The firm's 50 day simple moving average is $47.54 and its two-hundred day simple moving average is $50.22.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.01 by $0.25. The business had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business's revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the business posted $3.36 EPS. As a group, equities research analysts forecast that Concentrix will post 10.11 earnings per share for the current year.

Concentrix Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.83%. The ex-dividend date was Friday, January 31st. Concentrix's dividend payout ratio is currently 35.85%.

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.