Concentrix (NASDAQ:CNXC) Hits New 12-Month Low at $56.21

Concentrix Co. (NASDAQ:CNXC - Get Free Report)'s stock price hit a new 52-week low on Wednesday . The company traded as low as $56.21 and last traded at $56.21, with a volume of 73798 shares trading hands. The stock had previously closed at $57.54.

Analysts Set New Price Targets

CNXC has been the topic of several recent analyst reports. Barrington Research reduced their target price on shares of Concentrix from $121.00 to $84.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 27th. Bank of America restated an "underperform" rating and issued a $60.00 price target (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $82.25.

Concentrix Price Performance

The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market capitalization of $3.65 billion, a P/E ratio of 11.39, a PEG ratio of 0.66 and a beta of 0.48. The company's 50 day moving average price is $68.66 and its 200 day moving average price is $82.15.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Wednesday, January 24th. The company reported $3.07 EPS for the quarter, beating the consensus estimate of $2.92 by $0.15. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The company had revenue of $2.23 billion during the quarter, compared to analysts' expectations of $2.20 billion. As a group, sell-side analysts anticipate that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be given a $0.303 dividend. The ex-dividend date is Thursday, April 25th. This is a positive change from Concentrix's previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a dividend yield of 2.19%. Concentrix's payout ratio is currently 24.95%.

Institutional Trading of Concentrix

A number of institutional investors have recently made changes to their positions in CNXC. Cambridge Investment Research Advisors Inc. boosted its position in Concentrix by 7.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company's stock valued at $310,000 after purchasing an additional 133 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Concentrix by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,668,975 shares of the company's stock valued at $611,103,000 after buying an additional 35,619 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Concentrix by 8.0% in the first quarter. Great West Life Assurance Co. Can now owns 23,644 shares of the company's stock valued at $4,049,000 after buying an additional 1,761 shares in the last quarter. Sei Investments Co. increased its holdings in Concentrix by 168.7% during the first quarter. Sei Investments Co. now owns 22,904 shares of the company's stock worth $3,823,000 after buying an additional 14,380 shares during the last quarter. Finally, Aviva PLC bought a new stake in Concentrix during the first quarter worth $593,000. 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.