Concentrix Co. (NASDAQ:CNXC) CEO Buys $49,131.00 in Stock

Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell bought 900 shares of the business’s stock in a transaction dated Friday, April 19th. The shares were purchased at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the transaction, the chief executive officer now directly owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Concentrix Trading Up 0.2 %

Shares of Concentrix stock opened at $56.73 on Thursday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.74 billion, a PE ratio of 11.70, a P/E/G ratio of 0.63 and a beta of 0.48. The business’s fifty day moving average is $65.96 and its two-hundred day moving average is $81.32. Concentrix Co. has a fifty-two week low of $54.16 and a fifty-two week high of $106.10.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The firm had revenue of $2.40 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Analysts anticipate that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be given a $0.303 dividend. The ex-dividend date is Thursday, April 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 2.14%. Concentrix’s dividend payout ratio (DPR) is 24.95%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CNXC shares. Barrington Research cut their target price on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 27th. Bank of America restated an “underperform” rating and issued a $60.00 price target (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Concentrix presently has an average rating of “Hold” and an average target price of $82.25.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in CNXC. Groupe Bruxelles Lambert purchased a new position in Concentrix in the fourth quarter valued at about $861,662,000. Vanguard Group Inc. raised its position in Concentrix by 23.9% in the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after purchasing an additional 1,034,546 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Concentrix by 470.1% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 969,707 shares of the company’s stock valued at $77,683,000 after purchasing an additional 799,625 shares during the period. Impactive Capital LP raised its position in Concentrix by 30.2% in the third quarter. Impactive Capital LP now owns 3,255,172 shares of the company’s stock valued at $260,772,000 after purchasing an additional 754,566 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Concentrix by 161.3% during the third quarter. AQR Capital Management LLC now owns 794,300 shares of the company’s stock valued at $63,488,000 after acquiring an additional 490,361 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.