Concentrix Co. (NASDAQ:CNXC - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $54.09 and last traded at $54.36, with a volume of 90400 shares trading hands. The stock had previously closed at $54.67.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. Scotiabank dropped their price objective on shares of Concentrix from $120.00 to $85.00 and set a "sector outperform" rating for the company in a research note on Monday. Barrington Research dropped their price objective on shares of Concentrix from $121.00 to $84.00 and set an "outperform" rating for the company in a research note on Wednesday, March 27th. Finally, Bank of America reaffirmed an "underperform" rating and set a $60.00 price objective (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Concentrix currently has an average rating of "Hold" and a consensus target price of $74.75.
View Our Latest Stock Analysis on Concentrix
Concentrix Stock Performance
The company has a market capitalization of $3.65 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 0.64 and a beta of 0.48. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The stock's fifty day simple moving average is $63.73 and its 200-day simple moving average is $80.61.
Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.36 by ($0.03). The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. Analysts predict that Concentrix Co. will post 11.03 EPS for the current year.
Concentrix Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be given a $0.303 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This is an increase from Concentrix's previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.19%. Concentrix's dividend payout ratio is currently 24.95%.
Insider Buying and Selling at Concentrix
In other news, CEO Christopher A. Caldwell acquired 900 shares of the company's stock in a transaction on Friday, April 19th. The shares were bought at an average cost of $54.59 per share, with a total value of $49,131.00. Following the transaction, the chief executive officer now owns 239,128 shares in the company, valued at approximately $13,053,997.52. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders have bought 1,679 shares of company stock valued at $98,546. Insiders own 3.00% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of CNXC. Groupe Bruxelles Lambert purchased a new position in Concentrix during the 4th quarter worth $861,662,000. Vanguard Group Inc. grew its position in Concentrix by 23.9% during the 4th quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company's stock worth $526,788,000 after purchasing an additional 1,034,546 shares during the last quarter. Fuller & Thaler Asset Management Inc. grew its position in Concentrix by 470.1% during the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 969,707 shares of the company's stock worth $77,683,000 after purchasing an additional 799,625 shares during the last quarter. Impactive Capital LP grew its position in Concentrix by 30.2% during the 3rd quarter. Impactive Capital LP now owns 3,255,172 shares of the company's stock worth $260,772,000 after purchasing an additional 754,566 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Concentrix by 161.3% during the 3rd quarter. AQR Capital Management LLC now owns 794,300 shares of the company's stock worth $63,488,000 after purchasing an additional 490,361 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.
Concentrix Company Profile
(
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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.
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