Olivier Duha Sells 29,444 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the sale, the director now owns 1,155,862 shares of the company’s stock, valued at approximately $56,082,424.24. This trade represents a 2.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Concentrix Trading Down 0.3 %

Shares of NASDAQ:CNXC opened at $47.33 on Friday. The company has a market capitalization of $3.02 billion, a PE ratio of 12.76, a P/E/G ratio of 0.63 and a beta of 0.51. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 12-month low of $36.28 and a 12-month high of $77.00. The business’s fifty day simple moving average is $47.54 and its 200-day simple moving average is $46.36.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same period in the previous year, the company posted $2.57 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, equities research analysts predict that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th will be given a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Friday, April 25th. Concentrix’s payout ratio is presently 33.33%.

Institutional Trading of Concentrix

A number of institutional investors have recently made changes to their positions in the business. Steward Partners Investment Advisory LLC raised its stake in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after buying an additional 286 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Concentrix by 159.6% during the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after acquiring an additional 490 shares in the last quarter. UMB Bank n.a. raised its position in shares of Concentrix by 47.3% in the 1st quarter. UMB Bank n.a. now owns 676 shares of the company’s stock valued at $38,000 after purchasing an additional 217 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after purchasing an additional 444 shares in the last quarter. Finally, KBC Group NV grew its position in Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after purchasing an additional 815 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNXC. Canaccord Genuity Group lowered their price objective on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Barrington Research dropped their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Finally, Bank of America raised their price objective on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a report on Thursday, March 27th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Concentrix presently has a consensus rating of “Buy” and a consensus price target of $69.60.

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.