Concentrix Co. (NASDAQ:CNXC - Get Free Report) CEO Christopher A. Caldwell purchased 1,000 shares of the firm's stock in a transaction on Monday, April 21st. The shares were purchased at an average cost of $46.00 per share, with a total value of $46,000.00. Following the completion of the purchase, the chief executive officer now owns 303,362 shares in the company, valued at $13,954,652. This represents a 0.33 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Concentrix Trading Up 0.6 %
NASDAQ:CNXC opened at $48.11 on Thursday. The stock has a fifty day simple moving average of $47.51 and a 200 day simple moving average of $46.27. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00. 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 (NASDAQ:CNXC - Get Free Report) last announced its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.37 billion. During the same period last year, the company posted $2.57 earnings per share. The business's revenue for the quarter was down 1.3% on a year-over-year basis. Sell-side 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. Stockholders of record on Friday, April 25th will be issued a $0.3328 dividend. The ex-dividend date is Friday, April 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.77%. Concentrix's payout ratio is currently 33.33%.
Analysts Set New Price Targets
CNXC has been the subject of several research analyst reports. Barrington Research cut 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. Bank of America upped their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a report on Thursday, March 27th. Finally, Canaccord Genuity Group lowered their price objective on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th. 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. Based on data from MarketBeat, Concentrix has an average rating of "Buy" and a consensus target price of $69.60.
Check Out Our Latest Research Report on CNXC
Institutional Trading of Concentrix
Several hedge funds and other institutional investors have recently modified their holdings of the business. Steward Partners Investment Advisory LLC lifted its stake in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock worth $28,000 after acquiring an additional 286 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after purchasing an additional 490 shares during the period. UMB Bank n.a. lifted its position in shares of Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after purchasing an additional 217 shares in the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after purchasing an additional 444 shares during the period. Finally, KBC Group NV grew its position in Concentrix by 68.3% during the fourth quarter. KBC Group NV now owns 2,008 shares of the company's stock valued at $87,000 after purchasing an additional 815 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.
Concentrix Company Profile
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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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