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

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the sale, the executive vice president now owns 39,130 shares in the company, valued at approximately $2,164,280.30. This trade represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $54.21 on Thursday. The stock’s fifty day simple moving average is $48.34 and its 200 day simple moving average is $47.33. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.63 and a beta of 0.69. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the previous year, the company earned $2.57 EPS. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date is Friday, April 25th. Concentrix’s dividend payout ratio is 33.33%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Canaccord Genuity Group lowered their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Barrington Research reduced their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday, March 24th. Finally, Bank of America boosted their target price on Concentrix from $58.00 to $59.00 and gave the stock a “neutral” rating in a research report on Thursday, March 27th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $69.60.

Hedge Funds Weigh In On Concentrix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its position in shares of Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after buying an additional 286 shares during the period. Venturi Wealth Management LLC lifted its stake in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after acquiring an additional 490 shares in the last quarter. Parkside Financial Bank & Trust boosted its position in Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after acquiring an additional 444 shares during the period. KBC Group NV grew its stake in Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after acquiring an additional 815 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Concentrix by 843.9% in the 4th quarter. Quarry LP now owns 2,539 shares of the company’s stock valued at $110,000 after purchasing an additional 2,270 shares during the period. 90.34% of the stock is currently owned by hedge funds and other 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.