Concentrix Co. (NASDAQ:CNXC) EVP Sells $28,530.00 in Stock

Concentrix Co. (NASDAQ:CNXC - Get Free Report) EVP Cormac J. Twomey sold 500 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $57.06, for a total transaction of $28,530.00. Following the completion of the transaction, the executive vice president now directly owns 38,130 shares of the company's stock, valued at approximately $2,175,697.80. The trade was a 1.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Concentrix Stock Up 0.1%

Concentrix stock traded up $0.06 during mid-day trading on Thursday, reaching $54.75. 14,227 shares of the company's stock were exchanged, compared to its average volume of 819,208. The company has a market cap of $3.50 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.63 and a beta of 0.56. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a fifty day moving average of $51.94 and a 200-day moving average of $48.13.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) 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 analyst estimates 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 prior year, the business earned $2.57 EPS. Sell-side analysts expect that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 6th. Investors of record on Friday, April 25th were paid a dividend of $0.3328 per share. The ex-dividend date was Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.43%. Concentrix's dividend payout ratio is currently 33.33%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CNXC. Bank of America increased their price objective on shares of Concentrix from $58.00 to $59.00 and gave the company a "neutral" rating in a research note on Thursday, March 27th. Barrington Research dropped their price objective on shares of Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $65.75.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of CNXC. AQR Capital Management LLC increased its stake in Concentrix by 850.1% in the first quarter. AQR Capital Management LLC now owns 3,429,913 shares of the company's stock valued at $190,840,000 after purchasing an additional 3,068,916 shares during the period. Pzena Investment Management LLC increased its stake in Concentrix by 60.0% in the fourth quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company's stock valued at $101,667,000 after purchasing an additional 880,960 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in shares of Concentrix by 38.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after acquiring an additional 823,228 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Concentrix in the fourth quarter valued at about $21,123,000. Finally, Millennium Management LLC boosted its holdings in shares of Concentrix by 232.9% in the fourth quarter. Millennium Management LLC now owns 578,700 shares of the company's stock valued at $25,040,000 after acquiring an additional 404,885 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.