Concentrix Co. (NASDAQ:CNXC – Get Free Report) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, October 25th will be given a dividend of 0.333 per share on Tuesday, November 5th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.95%. The ex-dividend date is Friday, October 25th. This is an increase from Concentrix’s previous quarterly dividend of $0.30.
Concentrix has a payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Concentrix to earn $11.02 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 12.1%.
Concentrix Trading Down 4.2 %
Concentrix stock opened at $45.16 on Wednesday. Concentrix has a one year low of $44.95 and a one year high of $106.10. The company’s fifty day moving average price is $62.04 and its two-hundred day moving average price is $62.19. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 10.45, a PEG ratio of 0.67 and a beta of 0.58.
Analyst Ratings Changes
Several research analysts have recently issued reports on CNXC shares. Barrington Research dropped their price objective 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 raised Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Canaccord Genuity Group decreased their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Bank of America cut their target price on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Finally, Robert W. Baird initiated coverage on shares of Concentrix in a report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target on the stock. 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 stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $79.00.
Check Out Our Latest Stock Analysis on CNXC
Insider Buying and Selling
In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $74.63, for a total value of $29,852.00. Following the sale, the executive vice president now directly owns 29,327 shares in the company, valued at $2,188,674.01. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $51.38, for a total value of $79,330.72. Following the completion of the transaction, the executive vice president now directly owns 27,783 shares of the company’s stock, valued at $1,427,490.54. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,188,674.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,167 shares of company stock worth $653,747 in the last 90 days. 3.00% of the stock is owned by company insiders.
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.
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