Concentrix Corporation (NASDAQ:CNXC) Given Consensus Rating of “Hold” by Brokerages

Shares of Concentrix Corporation (NASDAQ:CNXC) have received an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $48.50.

Several research analysts recently weighed in on CNXC shares. Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Robert W. Baird decreased their price target on Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Barrington Research decreased their price target on Concentrix from $62.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Canaccord Genuity Group decreased their price target on Concentrix from $80.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Finally, Wall Street Zen downgraded Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th.

Concentrix Stock Down 5.6%

Shares of NASDAQ CNXC opened at $25.75 on Friday. The stock has a market capitalization of $1.57 billion, a P/E ratio of -1.19, a P/E/G ratio of 0.34 and a beta of 0.43. The company has a 50-day moving average price of $26.53 and a 200-day moving average price of $33.12. Concentrix has a 1 year low of $22.05 and a 1 year high of $62.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm posted $2.79 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Concentrix will post 10.42 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.6%. The ex-dividend date was Friday, April 24th. Concentrix’s dividend payout ratio (DPR) is -6.68%.

Insider Transactions at Concentrix

In related news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the completion of the sale, the insider owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andre S. Valentine acquired 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were bought at an average price of $27.95 per share, with a total value of $69,875.00. Following the acquisition, the chief financial officer directly owned 89,066 shares of the company’s stock, valued at $2,489,394.70. The trade was a 2.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Concentrix

Institutional investors and hedge funds have recently bought and sold shares of the company. Huntington National Bank grew its holdings in Concentrix by 6,011.1% during the third 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 period. Geneos Wealth Management Inc. grew its holdings in Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after purchasing an additional 522 shares during the period. Larson Financial Group LLC grew its holdings in 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 purchasing an additional 479 shares during the period. Rothschild Investment LLC grew its holdings in Concentrix by 14,980.0% during the third quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock valued at $35,000 after purchasing an additional 749 shares during the period. Finally, Allworth Financial LP grew its holdings in Concentrix by 90.6% during the third quarter. Allworth Financial LP now owns 856 shares of the company’s stock valued at $40,000 after purchasing an additional 407 shares during the period. 90.34% of the stock is owned by institutional investors.

About Concentrix

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology?driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back?office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.