Christopher A. Caldwell Buys 900 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC - Get Free Report) CEO Christopher A. Caldwell bought 900 shares of the stock in a transaction dated Friday, April 19th. The shares were purchased at an average price of $54.59 per share, with a total value of $49,131.00. Following the completion of the transaction, the chief executive officer now directly owns 239,128 shares in the company, valued at approximately $13,053,997.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Concentrix Trading Up 0.0 %

Shares of Concentrix stock traded up $0.01 during trading on Monday, hitting $55.20. The stock had a trading volume of 539,517 shares, compared to its average volume of 555,596. The stock has a market cap of $3.64 billion, a PE ratio of 11.38, a PEG ratio of 0.63 and a beta of 0.48. Concentrix Co. has a 12 month low of $54.16 and a 12 month high of $106.44. The firm's fifty day simple moving average is $66.94 and its 200-day simple moving average is $81.66. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.56.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). Concentrix had a net margin of 3.53% and a return on equity of 17.70%. The business had revenue of $2.40 billion for the quarter, compared to analysts' expectations of $2.38 billion. As a group, sell-side analysts expect that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be given a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a dividend yield of 2.20%. This is an increase from Concentrix's previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix's dividend payout ratio (DPR) is 24.95%.

Analyst Ratings Changes

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

Institutional Trading of Concentrix

A number of large investors have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its holdings in Concentrix by 9.1% during the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company's stock valued at $145,000 after buying an additional 123 shares in the last quarter. Ieq Capital LLC increased its position in shares of Concentrix by 3.3% during the fourth quarter. Ieq Capital LLC now owns 4,920 shares of the company's stock worth $483,000 after acquiring an additional 157 shares during the period. Miracle Mile Advisors LLC raised its stake in shares of Concentrix by 4.0% during the third quarter. Miracle Mile Advisors LLC now owns 4,366 shares of the company's stock valued at $350,000 after acquiring an additional 168 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Concentrix by 1.4% in the third quarter. Arizona State Retirement System now owns 12,598 shares of the company's stock valued at $1,009,000 after purchasing an additional 168 shares during the period. Finally, Treasurer of the State of North Carolina grew its stake in Concentrix by 1.0% in the fourth quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company's stock worth $1,912,000 after purchasing an additional 190 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.