Concentrix Co. (NASDAQ:CNXC - Get Free Report) Director Olivier Duha sold 29,444 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now directly owns 1,155,862 shares in the company, valued at $56,082,424.24. This trade represents a 2.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Concentrix Trading Down 0.3 %
Shares of NASDAQ:CNXC opened at $47.33 on Friday. The stock has a market cap of $3.02 billion, a PE ratio of 12.76, a P/E/G ratio of 0.63 and a beta of 0.51. 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 12-month low of $36.28 and a 12-month high of $77.00. The business has a 50 day moving average of $47.56 and a 200-day moving average of $46.39.
Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating analysts' consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.57 EPS. As a group, equities research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current year.
Concentrix Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be given a dividend of $0.3328 per share. The ex-dividend date is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.81%. Concentrix's payout ratio is presently 33.33%.
Analyst Upgrades and Downgrades
CNXC has been the topic of several analyst reports. Canaccord Genuity Group dropped their price target 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 dropped their target price on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. Finally, Bank of America lifted their price target on Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a report on Thursday, March 27th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $69.60.
View Our Latest Stock Report on CNXC
Hedge Funds Weigh In On Concentrix
A number of hedge funds have recently added to or reduced their stakes in the stock. Fuller & Thaler Asset Management Inc. grew its holdings in shares of Concentrix by 38.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock worth $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Pzena Investment Management LLC lifted its position in Concentrix by 60.0% during the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock worth $101,667,000 after purchasing an additional 880,960 shares during the period. State Street Corp grew its stake in Concentrix by 1.3% during the third quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after buying an additional 18,304 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Concentrix by 32.9% in the 4th quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company's stock valued at $57,688,000 after buying an additional 329,831 shares during the period. Finally, Lyrical Asset Management LP raised its position in shares of Concentrix by 3.4% in the 4th quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company's stock valued at $54,451,000 after buying an additional 41,540 shares in the last quarter. Institutional investors 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.
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