Concentrix Co. (NASDAQ:CNXC) Receives $75.00 Consensus Price Target from Analysts

Concentrix Co. (NASDAQ:CNXC - Get Free Report) has received an average rating of "Buy" from the six research firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have covered the stock in the last year is $75.00.

Separately, Canaccord Genuity Group lowered their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research note on Thursday, January 16th.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares of the company's stock, valued at approximately $2,285,771.60. This represents a 1.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 1,500 shares of company stock valued at $72,400. Company insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Concentrix

Institutional investors have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after buying an additional 286 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Concentrix by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company's stock worth $37,000 after buying an additional 287 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after buying an additional 490 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after buying an additional 444 shares in the last quarter. Finally, KBC Group NV lifted its holdings in Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after buying an additional 815 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Trading Up 1.7 %

CNXC stock traded up $0.80 during midday trading on Monday, hitting $48.51. The stock had a trading volume of 698,310 shares, compared to its average volume of 813,035. The firm has a market cap of $3.12 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 0.66 and a beta of 0.67. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. Concentrix has a 12-month low of $36.28 and a 12-month high of $85.35. The company's 50-day moving average price is $46.67 and its 200 day moving average price is $52.61.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.44 billion. During the same period in the previous year, the company earned $3.36 EPS. The business's quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts predict that Concentrix will post 10.11 earnings per share for the current fiscal year.

Concentrix Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were given a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a yield of 2.74%. Concentrix's dividend payout ratio (DPR) is 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.