Concentrix Co. (NASDAQ:CNXC - Get Free Report) EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $44.18, for a total value of $22,090.00. Following the completion of the transaction, the executive vice president now directly owns 24,936 shares of the company's stock, valued at approximately $1,101,672.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Concentrix Stock Performance
NASDAQ:CNXC opened at $44.43 on Wednesday. Concentrix Co. has a 12 month low of $43.91 and a 12 month high of $106.10. 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 firm has a market capitalization of $2.88 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 0.61 and a beta of 0.58. The business's fifty day moving average price is $59.45 and its 200 day moving average price is $61.56.
Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts' consensus estimates of $2.93 by ($0.06). The business had revenue of $2.39 billion during the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The company's revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 EPS. On average, sell-side analysts anticipate that Concentrix Co. will post 10.18 earnings per share for the current fiscal year.
Concentrix Increases Dividend
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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 given a dividend of $0.333 per share. This represents a $1.33 annualized dividend and a dividend yield of 3.00%. The ex-dividend date is Friday, October 25th. This is an increase from Concentrix's previous quarterly dividend of $0.30. Concentrix's payout ratio is currently 43.18%.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. 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 objective for the company. Canaccord Genuity Group dropped their price target on shares of Concentrix from $125.00 to $100.00 and set a "buy" rating for the company in a research note 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 target price on Concentrix from $85.00 to $70.00 and set a "neutral" rating for the company in a report on Thursday, September 26th. Finally, Barrington Research cut their price target on Concentrix from $84.00 to $70.00 and set an "outperform" rating on the stock in a report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $79.00.
Check Out Our Latest Report on CNXC
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC purchased a new stake in Concentrix in the second quarter valued at $1,445,000. Natixis acquired a new stake in shares of Concentrix during the first quarter worth about $542,000. Tweedy Browne Co LLC increased its position in shares of Concentrix by 21.6% during the first quarter. Tweedy Browne Co LLC now owns 173,338 shares of the company's stock worth $11,478,000 after purchasing an additional 30,798 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Concentrix in the 3rd quarter valued at about $2,562,000. Finally, Copeland Capital Management LLC boosted its position in shares of Concentrix by 1.8% in the 3rd quarter. Copeland Capital Management LLC now owns 1,003,375 shares of the company's stock valued at $51,423,000 after purchasing an additional 17,653 shares during the period. Institutional investors and hedge funds own 90.34% of the company's stock.
Concentrix Company Profile
(
Get Free Report)
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.
Further Reading
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