Concentrix Co. (NASDAQ:CNXC) Given Consensus Rating of “Buy” by Brokerages

Concentrix Co. (NASDAQ:CNXC) has received an average recommendation of “Buy” from the six research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $69.60.

A number of research firms have issued reports on CNXC. Canaccord Genuity Group lowered their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Bank of America increased their target price on shares of Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. Finally, Barrington Research reduced their price target on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research report on Monday, March 24th.

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell purchased 1,000 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The shares were acquired at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. The trade was a 0.33 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the sale, the executive vice president now owns 41,111 shares of the company’s stock, valued at approximately $2,285,771.60. This trade represents a 1.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,444 shares of company stock valued at $1,484,078. Corporate insiders own 3.20% of the company’s stock.

Institutional Trading of Concentrix

A number of hedge funds have recently made changes to their positions in the stock. Pzena Investment Management LLC boosted its stake in Concentrix by 60.0% during the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company’s stock valued at $101,667,000 after acquiring an additional 880,960 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in shares of Concentrix by 38.1% in the 4th 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 in the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Concentrix during the fourth quarter worth about $21,123,000. Millennium Management LLC grew its stake in Concentrix by 232.9% in the fourth quarter. Millennium Management LLC now owns 578,700 shares of the company’s stock worth $25,040,000 after purchasing an additional 404,885 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in Concentrix by 209.0% in the fourth quarter. Marshall Wace LLP now owns 593,043 shares of the company’s stock valued at $25,661,000 after buying an additional 401,133 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Price Performance

CNXC opened at $50.21 on Friday. Concentrix has a 1 year low of $36.28 and a 1 year high of $77.00. 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 company’s 50 day simple moving average is $47.60 and its 200 day simple moving average is $46.27. The stock has a market capitalization of $3.21 billion, a PE ratio of 13.53, a P/E/G ratio of 0.63 and a beta of 0.51.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.21. The company had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $2.57 EPS. As a group, sell-side analysts expect that Concentrix will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.65%. The ex-dividend date is Friday, April 25th. Concentrix’s dividend payout ratio (DPR) is 33.33%.

About Concentrix

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.