Concentrix Corporation (NASDAQ:CNXC) Receives $67.25 Consensus Price Target from Analysts

Shares of Concentrix Corporation (NASDAQ:CNXC - Get Free Report) have been assigned a consensus rating of "Buy" from the five research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $67.25.

CNXC has been the subject of a number of analyst reports. Bank of America lifted their target price on shares of Concentrix from $59.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, June 9th. Barrington Research lowered their price objective on Concentrix from $70.00 to $54.00 and set an "outperform" rating for the company in a research report on Monday, March 24th. Finally, Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday.

Insider Buying and Selling at Concentrix

In other news, CEO Christopher A. Caldwell bought 1,000 shares of the stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $46.00 per share, with a total value of $46,000.00. Following the completion of the transaction, the chief executive officer now directly owns 303,362 shares of the company's stock, valued at $13,954,652. This trade represents a 0.33% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Olivier Duha sold 29,444 shares of Concentrix stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the completion of the sale, the director now directly owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. The trade was a 2.48% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,944 shares of company stock valued at $1,510,158. Corporate insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Voya Investment Management LLC increased its position in shares of Concentrix by 356.5% during the first quarter. Voya Investment Management LLC now owns 26,227 shares of the company's stock worth $1,459,000 after acquiring an additional 20,482 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock valued at $34,000 after purchasing an additional 522 shares during the last quarter. Focus Partners Wealth acquired a new position in Concentrix during the 1st quarter valued at about $781,000. Bayforest Capital Ltd bought a new stake in Concentrix during the 1st quarter worth approximately $813,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Concentrix by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company's stock worth $8,152,000 after purchasing an additional 21,746 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Trading Down 5.7%

Shares of CNXC stock traded down $3.01 on Friday, hitting $50.15. The company had a trading volume of 1,464,090 shares, compared to its average volume of 724,048. Concentrix has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $3.20 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.65 and a beta of 0.56. The stock's 50-day moving average is $53.32 and its two-hundred day moving average is $49.20.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its 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. The business had revenue of $2.37 billion for the quarter, compared to analysts' expectations of $2.37 billion. Concentrix had a return on equity of 16.73% and a net margin of 2.81%. The firm's revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business posted $2.57 earnings per share. On average, equities research analysts anticipate 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. Shareholders of record on Friday, April 25th were issued a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Friday, April 25th. Concentrix's payout ratio is 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.