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 stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $44.18, for a total value of $22,090.00. Following the completion of the sale, the executive vice president now owns 24,936 shares in the company, valued at $1,101,672.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Concentrix Stock Down 0.8 %

Shares of NASDAQ:CNXC opened at $44.08 on Thursday. The stock’s 50-day moving average price is $58.96 and its 200-day moving average price is $61.43. Concentrix Co. has a 12-month low of $43.91 and a 12-month high of $106.10. The stock has a market capitalization of $2.86 billion, a P/E ratio of 14.31, a price-to-earnings-growth ratio of 0.61 and a beta of 0.58. 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 announced its quarterly earnings data on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the business posted $2.54 earnings per share. The firm’s quarterly revenue was up 46.2% compared to the same quarter last year. On average, equities analysts anticipate that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.333 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, October 25th. Concentrix’s dividend payout ratio (DPR) is 43.18%.

Wall Street Analyst Weigh In

CNXC has been the topic of a number of research reports. Bank of America lowered their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Robert W. Baird initiated coverage on Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target on the stock. Barrington Research lowered their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Canaccord Genuity Group lowered their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th. Finally, Baird R W upgraded Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. 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 MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $79.00.

Institutional Trading of Concentrix

Several large investors have recently modified their holdings of the business. Impactive Capital LP grew its stake in shares of Concentrix by 13.0% in the first quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after purchasing an additional 443,045 shares during the last quarter. Capital International Investors grew its stake in shares of Concentrix by 0.3% in the first quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock worth $167,256,000 after purchasing an additional 7,333 shares during the last quarter. Pzena Investment Management LLC grew its stake in shares of Concentrix by 46.6% in the second quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock worth $93,965,000 after purchasing an additional 471,699 shares during the last quarter. Copeland Capital Management LLC grew its stake in shares of Concentrix by 1.8% in the third quarter. Copeland Capital Management LLC now owns 1,003,375 shares of the company’s stock worth $51,423,000 after purchasing an additional 17,653 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in shares of Concentrix in the second quarter worth about $62,738,000. 90.34% of the stock is owned by institutional investors.

Concentrix Company Profile

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.