Insider Buying: Concentrix (NASDAQ:CNXC) CFO Acquires 2,500 Shares of Stock

Key Points

• CFO Andre Valentine purchased 2,500 shares of Concentrix on April 9 at an average price of $27.95 (total $69,875), bringing his ownership to 89,066 shares (a 2.89% increase) valued at about $2.49 million.
• Shares traded up ~2.8% to $28.50 on the day; the company has a $1.75 billion market cap, a negative P/E (-1.32), and a 52-week range of $24.27–$62.14 with both 50- and 200-day moving averages above the current price.
• Concentrix slightly missed quarterly EPS ($2.61 vs. $2.65) while revenue rose 5.4%, announced a $0.36 quarterly dividend (a 5.1% yield), and faces mixed analyst revisions with a consensus "Hold" and an average target of $48.50.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) CFO Andre Valentine purchased 2,500 shares of the stock in a transaction dated Thursday, April 9th. The shares were purchased at an average price of $27.95 per share, with a total value of $69,875.00. Following the completion of the acquisition, the chief financial officer owned 89,066 shares of the company's stock, valued at approximately $2,489,394.70. This represents a 2.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Concentrix Trading Up 2.8%

Shares of NASDAQ CNXC traded up $0.77 during midday trading on Thursday, reaching $28.50. 1,174,952 shares of the stock were exchanged, compared to its average volume of 1,516,378. The company has a market capitalization of $1.75 billion, a P/E ratio of -1.32, a P/E/G ratio of 0.34 and a beta of 0.50. Concentrix Corporation has a 52-week low of $24.27 and a 52-week high of $62.14. The company has a current ratio of 1.18, a quick ratio of 1.40 and a debt-to-equity ratio of 1.43. The stock has a 50 day moving average price of $32.10 and a 200-day moving average price of $38.33.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.04). Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The firm had revenue of $2.50 billion for the quarter, compared to analysts' expectations of $2.49 billion. During the same quarter last year, the firm earned $2.79 earnings per share. The business's quarterly revenue was up 5.4% compared to the same quarter last year. Equities research analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Friday, April 24th. Concentrix's payout ratio is presently -6.68%.

Institutional Investors Weigh In On Concentrix

Several institutional investors have recently bought and sold shares of CNXC. Royal Bank of Canada grew its stake in Concentrix by 9.5% during the first quarter. Royal Bank of Canada now owns 47,501 shares of the company's stock worth $2,643,000 after buying an additional 4,133 shares during the period. Goldman Sachs Group Inc. grew its stake in Concentrix by 75.1% during the first quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company's stock worth $23,552,000 after buying an additional 181,546 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Concentrix by 17.4% during 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 buying an additional 21,746 shares during the period. Focus Partners Wealth purchased a new stake in Concentrix during the first quarter worth approximately $781,000. Finally, Geneos Wealth Management Inc. grew its stake in Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after buying an additional 522 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of recent analyst reports. Barrington Research lowered their target price on shares of Concentrix from $62.00 to $38.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Robert W. Baird lowered their target price on shares of Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Canaccord Genuity Group lowered their target price on shares of Concentrix from $80.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Finally, Weiss Ratings downgraded shares of Concentrix from a "hold (c-)" rating to a "sell (d)" rating in a report on Thursday, January 29th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $48.50.

About Concentrix

Concentrix Inc NASDAQ: CNXC is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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