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 business’s stock in a transaction 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 transaction, the executive vice president now owns 39,130 shares of the company’s stock, valued at approximately $2,164,280.30. The trade was a 1.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Concentrix Stock Up 0.3 %

Shares of Concentrix stock traded up $0.18 during trading on Wednesday, hitting $54.21. 1,365,321 shares of the stock traded hands, compared to its average volume of 678,800. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The stock’s fifty day simple moving average is $48.27 and its 200 day simple moving average is $47.29. The firm has a market cap of $3.49 billion, a P/E ratio of 14.61, a price-to-earnings-growth ratio of 0.63 and a beta of 0.69. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating 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 business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same quarter in the previous year, the business posted $2.57 EPS. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. On average, equities analysts predict that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business 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 of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.46%. Concentrix’s dividend payout ratio (DPR) is presently 33.33%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC boosted its position in Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after purchasing an additional 286 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Concentrix by 0.3% during the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after buying an additional 324 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in shares of Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after buying an additional 444 shares in the last quarter. Xponance Inc. grew its position in shares of Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after buying an additional 455 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its stake in shares of Concentrix by 159.6% during 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. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

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.