Insider Buying: Concentrix Co. (NASDAQ:CNXC) EVP Purchases 400 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Jane Fogarty bought 400 shares of the firm’s stock in a transaction on Wednesday, April 3rd. The shares were bought at an average price of $61.04 per share, with a total value of $24,416.00. Following the completion of the purchase, the executive vice president now owns 10,492 shares in the company, valued at approximately $640,431.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Jane Fogarty also recently made the following trade(s):

• On Tuesday, January 30th, Jane Fogarty bought 200 shares of Concentrix stock. The shares were bought at an average price of $89.27 per share, with a total value of $17,854.00.

Concentrix Trading Down 0.8 %

NASDAQ:CNXC opened at $58.95 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.38. The firm has a market capitalization of $3.91 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 0.68 and a beta of 0.48. Concentrix Co. has a one year low of $56.81 and a one year high of $114.43. The business has a fifty day moving average price of $73.32 and a 200-day moving average price of $83.11.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, January 24th. The company reported $3.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.92 by $0.15. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.20 billion. Sell-side analysts forecast that Concentrix Co. will post 11.03 EPS for the current year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be paid a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Thursday, April 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio is presently 24.95%.

Institutional Investors Weigh In On Concentrix

Institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new stake in Concentrix in the 1st quarter worth $26,000. First Horizon Advisors Inc. increased its stake in Concentrix by 381.7% in the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock worth $34,000 after buying an additional 271 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in Concentrix in the 4th quarter worth $35,000. Parkside Financial Bank & Trust increased its stake in Concentrix by 146.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after buying an additional 374 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Concentrix during the 3rd quarter valued at about $65,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CNXC shares. Bank of America reiterated an “underperform” rating and set a $60.00 target price (down from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Barrington Research reduced their price objective on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Concentrix has a consensus rating of “Hold” and a consensus price target of $95.80.

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.