Concentrix (NASDAQ:CNXC) Receives New Coverage from Analysts at Robert W. Baird

Robert W. Baird started coverage on shares of Concentrix (NASDAQ:CNXC) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued an outperform rating and a $70.00 price objective on the stock.

A number of other equities analysts have also recently commented on CNXC. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $125.00 to $100.00 and set a buy rating for the company in a research report on Thursday, September 26th. Barrington Research cut their target price on shares of Concentrix from $84.00 to $70.00 and set an outperform rating for the company in a research note on Thursday, September 26th. Finally, Bank of America decreased their price target on shares of Concentrix from $85.00 to $70.00 and set a neutral rating on the stock in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and an average price target of $79.00.

Concentrix Stock Performance

Shares of CNXC opened at $52.58 on Thursday. The company has a market cap of $3.42 billion, a PE ratio of 12.17, a price-to-earnings-growth ratio of 0.71 and a beta of 0.58. The firm has a 50-day moving average of $65.82 and a 200-day moving average of $63.24. Concentrix has a one year low of $50.23 and a one year high of $106.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.56.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The business had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the business posted $2.54 EPS. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. As a group, equities analysts forecast that Concentrix will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be given a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date of this dividend is Friday, October 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is presently 28.01%.

Insider Buying and Selling

In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the sale, the chief executive officer now owns 241,841 shares of the company’s stock, valued at $12,745,020.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total transaction of $29,852.00. Following the sale, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,167 shares of company stock valued at $653,747. 3.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Concentrix

Large investors have recently bought and sold shares of the company. Pineridge Advisors LLC bought a new stake in shares of Concentrix during the 4th quarter worth approximately $35,000. Hexagon Capital Partners LLC boosted its holdings in shares of Concentrix by 2,992.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock valued at $25,000 after purchasing an additional 389 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Concentrix by 1,005.0% in the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after purchasing an additional 402 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Concentrix by 54.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after buying an additional 285 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Concentrix during the 2nd quarter worth $68,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.