Concentrix Corporation (NASDAQ:CNXC) Receives $66.25 Consensus PT from Brokerages

Concentrix Corporation (NASDAQ:CNXC) has earned a consensus rating of “Moderate Buy” from the five ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $66.25.

CNXC has been the subject of a number of research reports. Weiss Ratings upgraded Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Robert W. Baird reduced their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. Barrington Research reiterated an “outperform” rating and issued a $62.00 price target on shares of Concentrix in a research note on Thursday. Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a report on Tuesday, September 23rd.

Insiders Place Their Bets

In related news, CEO Christopher A. Caldwell bought 2,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were acquired at an average cost of $42.03 per share, with a total value of $84,060.00. Following the completion of the acquisition, the chief executive officer owned 286,661 shares of the company’s stock, valued at $12,048,361.83. The trade was a 0.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders purchased 4,000 shares of company stock worth $169,410. 3.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Concentrix

Several large investors have recently modified their holdings of the stock. Huntington National Bank grew its position in Concentrix by 6,011.1% during the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock valued at $25,000 after purchasing an additional 541 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in shares of Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after buying an additional 522 shares in the last quarter. Quent Capital LLC purchased a new stake in shares of Concentrix during the third quarter valued at approximately $29,000. Larson Financial Group LLC grew its holdings in shares of Concentrix by 224.9% during the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock valued at $32,000 after buying an additional 479 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of Concentrix by 473.8% during the second quarter. IFP Advisors Inc now owns 700 shares of the company’s stock valued at $37,000 after acquiring an additional 578 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $33.36 on Tuesday. Concentrix has a 1 year low of $31.63 and a 1 year high of $66.00. The stock has a market capitalization of $2.08 billion, a P/E ratio of 7.05, a P/E/G ratio of 0.47 and a beta of 0.49. The company’s 50-day moving average is $44.88 and its 200 day moving average is $50.82. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.56.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Thursday, September 25th. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.10). Concentrix had a return on equity of 16.02% and a net margin of 3.25%.The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter last year, the business earned $2.87 earnings per share. The business’s quarterly revenue was up 4.0% on a year-over-year basis. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS. Q4 2025 guidance at 2.850-2.960 EPS. On average, sell-side analysts expect that Concentrix will post 10.11 earnings per share for the current year.

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 4th. Investors of record on Friday, October 24th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Friday, October 24th. This is an increase from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s dividend payout ratio (DPR) is currently 30.44%.

Concentrix Company Profile

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.