Cormac J. Twomey Sells 500 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $45.15, for a total value of $22,575.00. Following the sale, the executive vice president now owns 24,436 shares of the company’s stock, valued at approximately $1,103,285.40. This trade represents a 2.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Concentrix Trading Down 0.1 %

Shares of CNXC traded down $0.03 on Tuesday, reaching $45.47. 477,468 shares of the company’s stock were exchanged, compared to its average volume of 746,220. The business has a 50 day moving average price of $46.48 and a two-hundred day moving average price of $58.92. Concentrix Co. has a 12 month low of $36.28 and a 12 month high of $106.10. The stock has a market capitalization of $2.95 billion, a P/E ratio of 14.75, a price-to-earnings-growth ratio of 0.58 and a beta of 0.63. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, September 25th. The company reported $2.87 earnings per share for the quarter, missing the consensus estimate of $2.93 by ($0.06). Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The firm had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the business earned $2.54 EPS. The firm’s revenue was up 46.2% compared to the same quarter last year. Research analysts anticipate that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were paid a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.93%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, October 25th. Concentrix’s payout ratio is presently 43.18%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CNXC. Robert W. Baird began coverage on Concentrix in a report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target on the stock. Barrington Research dropped their target price on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Baird R W upgraded Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. 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 report on Thursday, September 26th. Finally, Canaccord Genuity Group dropped their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, September 26th. One investment 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $79.00.

Institutional Investors Weigh In On Concentrix

A number of hedge funds have recently modified their holdings of the business. 1832 Asset Management L.P. acquired a new stake in Concentrix during the 2nd quarter worth approximately $62,738,000. Pzena Investment Management LLC raised its holdings in shares of Concentrix by 46.6% during the second quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock worth $93,965,000 after acquiring an additional 471,699 shares during the period. Invenomic Capital Management LP boosted its stake in Concentrix by 354.3% in the 3rd quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after purchasing an additional 368,295 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in Concentrix by 126.4% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 623,542 shares of the company’s stock worth $39,458,000 after purchasing an additional 348,100 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Concentrix by 74.4% in the 2nd quarter. AQR Capital Management LLC now owns 813,864 shares of the company’s stock valued at $51,160,000 after purchasing an additional 347,230 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.