Concentrix Co. (NASDAQ:CNXC) Short Interest Down 14.7% in March

Concentrix Co. (NASDAQ:CNXC - Get Free Report) saw a large decrease in short interest in March. As of March 31st, there was short interest totalling 7,310,000 shares, a decrease of 14.7% from the March 15th total of 8,570,000 shares. Approximately 16.2% of the shares of the stock are short sold. Based on an average trading volume of 982,400 shares, the short-interest ratio is presently 7.4 days.

Concentrix Trading Down 1.3 %

NASDAQ CNXC traded down $0.65 during trading hours on Friday, reaching $50.13. The company had a trading volume of 122,620 shares, compared to its average volume of 696,570. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $3.20 billion, a P/E ratio of 13.50, a price-to-earnings-growth ratio of 0.63 and a beta of 0.51. The stock has a 50-day moving average of $47.57 and a 200 day moving average of $46.26. Concentrix has a 1-year low of $36.28 and a 1-year high of $77.00.

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, 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 firm had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the business posted $2.57 EPS. The business's revenue for the quarter was down 1.3% compared to the same quarter last year. As a group, research analysts anticipate that Concentrix will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, May 6th. Stockholders 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 annualized dividend and a dividend yield of 2.66%. Concentrix's dividend payout ratio is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on CNXC shares. Barrington Research dropped their price objective on shares of 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 boosted their target price 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 cut their price target on shares of Concentrix from $100.00 to $80.00 and set a "buy" rating for the company in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $69.60.

Insider Activity at Concentrix

In related news, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction that occurred 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 transaction, the director now owns 1,155,862 shares in the company, valued at approximately $56,082,424.24. This trade represents a 2.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Cormac J. Twomey sold 500 shares of the company'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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,444 shares of company stock valued at $1,484,078. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Concentrix

Institutional investors and hedge funds have recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its holdings in Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after acquiring an additional 286 shares during the period. UMB Bank n.a. boosted its stake in shares of Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after purchasing an additional 490 shares in the last quarter. Parkside Financial Bank & Trust increased its stake in Concentrix by 58.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after buying an additional 444 shares during the period. Finally, KBC Group NV lifted its holdings in Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company's stock worth $87,000 after buying an additional 815 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

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.