Concentrix Co. (NASDAQ:CNXC) Receives Consensus Recommendation of "Buy" from Brokerages

Shares of Concentrix Co. (NASDAQ:CNXC - Get Free Report) have been assigned an average rating of "Buy" from the five analysts that are covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $65.75.

Several equities research analysts have recently issued reports on CNXC shares. Bank of America raised their price target on shares of Concentrix from $58.00 to $59.00 and gave the stock a "neutral" rating in a research note on Thursday, March 27th. Barrington Research reduced 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. Finally, Canaccord Genuity Group lowered their target price on Concentrix from $100.00 to $80.00 and set a "buy" rating on the stock in a research note on Thursday, January 16th.

Insider Activity at Concentrix

In related news, Director Olivier Duha sold 29,444 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the sale, the director now directly owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. The trade was a 2.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction dated Monday, March 31st. The stock was sold at an average price of $55.31, for a total value of $27,655.00. Following the completion of the transaction, the executive vice president now owns 39,130 shares of the company's stock, valued at approximately $2,164,280.30. This represents a 1.26 % decrease in their position. The disclosure for this sale can be found here. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Concentrix

Several hedge funds and other institutional investors have recently modified their holdings of the stock. UMB Bank n.a. increased its holdings 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 during the period. Steward Partners Investment Advisory LLC increased 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 during the last quarter. Rhumbline Advisers raised its holdings in shares of Concentrix by 0.3% in the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock valued at $5,565,000 after acquiring an additional 324 shares in the last quarter. Parkside Financial Bank & Trust raised 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 acquiring an additional 444 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after acquiring an additional 444 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Concentrix Stock Performance

CNXC stock traded down $0.46 during midday trading on Friday, hitting $50.60. The company's stock had a trading volume of 78,925 shares, compared to its average volume of 699,380. Concentrix has a 1 year low of $36.28 and a 1 year high of $77.00. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 13.69, a PEG ratio of 0.63 and a beta of 0.51. The stock's 50-day moving average price is $47.90 and its 200 day moving average price is $46.36. 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 issued its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping analysts' consensus estimates of $2.58 by $0.21. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm's quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.57 EPS. On average, equities analysts forecast that Concentrix will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Investors of record on Friday, April 25th will be paid a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date is Friday, April 25th. Concentrix's payout ratio is currently 33.33%.

Concentrix Company Profile

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.