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

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares in the company, valued at approximately $2,285,771.60. This represents a 1.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Concentrix Price Performance

NASDAQ:CNXC opened at $52.28 on Friday. The stock has a market capitalization of $3.37 billion, a PE ratio of 14.09, a P/E/G ratio of 0.75 and a beta of 0.63. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $91.20. The firm has a fifty day simple moving average of $46.07 and a 200 day simple moving average of $53.82. The company has a current ratio of 1.42, a quick ratio of 1.57 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter last year, the company posted $3.36 earnings per share. Concentrix’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st will be issued a $0.3328 dividend. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.33 annualized dividend and a dividend yield of 2.55%. Concentrix’s dividend payout ratio is currently 35.85%.

Hedge Funds Weigh In On Concentrix

Large investors have recently modified their holdings of the stock. State Street Corp grew its stake in Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company’s stock valued at $71,850,000 after buying an additional 18,304 shares during the last quarter. Copeland Capital Management LLC grew its position in shares of Concentrix by 32.9% in the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company’s stock valued at $57,688,000 after purchasing an additional 329,831 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Concentrix by 5.2% during the third quarter. Geode Capital Management LLC now owns 878,092 shares of the company’s stock worth $45,013,000 after purchasing an additional 43,295 shares during the period. Invenomic Capital Management LP lifted its holdings in Concentrix by 354.3% during the 3rd quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after purchasing an additional 368,295 shares during the last quarter. Finally, Loomis Sayles & Co. L P boosted its stake in Concentrix by 8.1% in the 3rd quarter. Loomis Sayles & Co. L P now owns 305,492 shares of the company’s stock valued at $15,657,000 after purchasing an additional 22,815 shares during the period. 90.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, 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 report 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. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $75.00.

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.