Concentrix (NASDAQ:CNXC) Given “Outperform” Rating at Barrington Research

Barrington Research reiterated their outperform rating on shares of Concentrix (NASDAQ:CNXC) in a report published on Friday, Benzinga reports. Barrington Research currently has a $84.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Bank of America raised shares of Concentrix from an underperform rating to a neutral rating and lifted their price objective for the stock from $65.00 to $85.00 in a research report on Wednesday, August 28th. Canaccord Genuity Group reaffirmed a buy rating and set a $125.00 price objective on shares of Concentrix in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $94.75.

Concentrix Stock Performance

Shares of NASDAQ:CNXC opened at $63.55 on Friday. The company has a market capitalization of $4.15 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 0.70 and a beta of 0.61. The firm’s 50 day simple moving average is $68.36 and its 200 day simple moving average is $63.79. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. Concentrix has a fifty-two week low of $53.89 and a fifty-two week high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.63 by $0.06. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the company posted $2.50 EPS. The business’s quarterly revenue was up 47.4% on a year-over-year basis. As a group, sell-side analysts forecast that Concentrix will post 10.8 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 26th were issued a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, July 26th. Concentrix’s dividend payout ratio (DPR) is currently 28.01%.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $67.23, for a total value of $26,892.00. Following the sale, the executive vice president now directly owns 29,727 shares in the company, valued at $1,998,546.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have sold 1,200 shares of company stock worth $82,028. Insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Concentrix

Institutional investors and hedge funds have recently modified their holdings of the business. Hexagon Capital Partners LLC boosted its holdings in shares of Concentrix by 2,992.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock worth $25,000 after buying an additional 389 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Concentrix by 1,005.0% during the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock worth $28,000 after buying an additional 402 shares in the last quarter. Pineridge Advisors LLC bought a new position in shares of Concentrix during the 4th quarter worth approximately $35,000. First Horizon Advisors Inc. boosted 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. acquired a new position in shares of Concentrix during the second quarter worth approximately $68,000. 90.34% of the stock is currently owned by institutional investors.

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.