Concentrix Co. (NASDAQ:CNXC - Get Free Report) shares were down 8.2% during mid-day trading on Friday . The stock traded as low as $60.49 and last traded at $59.74. Approximately 319,730 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 649,487 shares. The stock had previously closed at $65.04.
Analysts Set New Price Targets
Several research firms recently commented on CNXC. Barrington Research cut their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research note on Monday, March 24th. Canaccord Genuity Group cut their price objective on Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a research report on Thursday, January 16th. Finally, Bank of America boosted their target price on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Concentrix presently has an average rating of "Buy" and a consensus target price of $69.60.
View Our Latest Stock Analysis on Concentrix
Concentrix Stock Performance
The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The firm has a 50 day moving average of $48.20 and a 200-day moving average of $47.38. The stock has a market capitalization of $3.48 billion, a PE ratio of 14.56, a P/E/G ratio of 0.63 and a beta of 0.69.
Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.37 billion. During the same period last year, the company posted $2.57 earnings per share. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. Research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.
Concentrix Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.46%. Concentrix's dividend payout ratio is 33.33%.
Insider Buying and Selling at Concentrix
In other news, Director Kathryn Hayley purchased 500 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was acquired at an average price of $50.22 per share, with a total value of $25,110.00. Following the purchase, the director now owns 3,034 shares in the company, valued at $152,367.48. This represents a 19.73 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company's stock.
Institutional Trading of Concentrix
Large investors have recently added to or reduced their stakes in the business. Steward Partners Investment Advisory LLC boosted its holdings in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after purchasing an additional 286 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after buying an additional 490 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in shares of Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares in the last quarter. KBC Group NV increased its holdings in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after acquiring an additional 815 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Concentrix by 843.9% in the 4th quarter. Quarry LP now owns 2,539 shares of the company's stock valued at $110,000 after acquiring an additional 2,270 shares in the last quarter. 90.34% of the stock is owned by institutional investors.
Concentrix Company Profile
(
Get Free Report)
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.
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