Analysts Set Concentrix Corporation (NASDAQ:CNXC) PT at $67.25

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) has been assigned an average recommendation of "Buy" from the five research firms that are currently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $67.25.

CNXC has been the subject of several recent research reports. Bank of America raised their price objective on Concentrix from $59.00 to $65.00 and gave the company a "neutral" rating in a research report on Monday, June 9th. Wall Street Zen cut shares of Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday. Finally, Barrington Research reissued an "outperform" rating and set a $54.00 price objective on shares of Concentrix in a research note on Tuesday.

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell bought 1,000 shares of Concentrix stock in a transaction on Monday, April 21st. The stock was acquired at an average price of $46.00 per share, with a total value of $46,000.00. Following the acquisition, the chief executive officer now owns 303,362 shares in the company, valued at approximately $13,954,652. This trade represents a 0.33% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $57.06, for a total value of $28,530.00. Following the transaction, the executive vice president now directly owns 38,130 shares in the company, valued at approximately $2,175,697.80. The trade was a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,944 shares of company stock valued at $1,510,158 in the last quarter. 3.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Concentrix

Several large investors have recently bought and sold shares of the business. BNP Paribas Financial Markets bought a new stake in Concentrix in the 4th quarter worth approximately $294,000. Raymond James Financial Inc. purchased a new position in shares of Concentrix in the 4th quarter worth $4,752,000. Fifth Third Bancorp grew its holdings in shares of Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after acquiring an additional 548 shares during the period. American Century Companies Inc. purchased a new stake in Concentrix during the fourth quarter valued at $539,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Concentrix during the fourth quarter valued at $294,000. 90.34% of the stock is currently owned by institutional investors.

Concentrix Trading Up 4.5%

Shares of CNXC traded up $2.31 during trading hours on Friday, reaching $54.08. 835,257 shares of the company traded hands, compared to its average volume of 725,087. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 13.55, a price-to-earnings-growth ratio of 0.65 and a beta of 0.56. The company's fifty day moving average price is $53.36 and its two-hundred day moving average price is $49.30. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.22.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its 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 firm had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a return on equity of 16.73% and a net margin of 2.81%. The business's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.57 EPS. Equities research analysts predict that Concentrix will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Stockholders of record on Friday, April 25th were issued a dividend of $0.3328 per share. The ex-dividend date was Friday, April 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.46%. Concentrix's payout ratio is presently 33.33%.

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.