Concentrix Co. (NASDAQ:CNXC - Get Free Report) EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the transaction, the executive vice president now owns 39,130 shares in the company, valued at $2,164,280.30. The trade was a 1.26 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Concentrix Trading Down 2.2 %
Shares of NASDAQ CNXC traded down $1.08 during midday trading on Monday, reaching $47.19. 1,831,039 shares of the stock were exchanged, compared to its average volume of 682,272. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $3.04 billion, a P/E ratio of 12.72, a P/E/G ratio of 0.63 and a beta of 0.51. The stock has a 50 day moving average price of $48.22 and a 200-day moving average price of $46.99. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00.
Concentrix (NASDAQ:CNXC - Get Free Report) last released its 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 firm had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.37 billion. During the same period in the previous year, the company earned $2.57 EPS. Concentrix's revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts expect that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.
Concentrix Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix's payout ratio is 33.33%.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on CNXC shares. Barrington Research dropped their price target on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Canaccord Genuity Group reduced their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a report on Thursday, January 16th. Finally, Bank of America raised their price objective on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $69.60.
View Our Latest Research Report on CNXC
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of CNXC. Fuller & Thaler Asset Management Inc. grew its holdings in Concentrix by 38.1% in the fourth 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 holdings 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 worth $101,667,000 after buying an additional 880,960 shares during the last quarter. State Street Corp raised its position in shares of Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after buying an additional 18,304 shares during the period. Copeland Capital Management LLC boosted its holdings in Concentrix by 32.9% in the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after acquiring an additional 329,831 shares during the last quarter. Finally, Lyrical Asset Management LP grew its position in Concentrix by 3.4% during the fourth quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock valued at $54,451,000 after acquiring an additional 41,540 shares during the period. Institutional investors and hedge funds own 90.34% of the company's stock.
About Concentrix
(
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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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