Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells 400 Shares of Stock

Concentrix Co. (NASDAQ:CNXC - Get Free Report) EVP Cormac J. Twomey sold 400 shares of the company's stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $55.01, for a total transaction of $22,004.00. Following the completion of the transaction, the executive vice president now owns 30,927 shares of the company's stock, valued at approximately $1,701,294.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Concentrix Stock Up 1.2 %

Shares of CNXC stock traded up $0.63 during trading on Wednesday, reaching $55.30. The company's stock had a trading volume of 450,310 shares, compared to its average volume of 542,899. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The business has a fifty day moving average price of $63.73 and a 200-day moving average price of $80.61. Concentrix Co. has a one year low of $53.89 and a one year high of $106.10. The company has a market cap 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.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly 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 return on equity of 17.70% and a net margin of 3.53%. The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Analysts anticipate that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

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

Institutional Trading of Concentrix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Horizon Advisors Inc. raised its position in Concentrix by 381.7% during the fourth quarter. First Horizon Advisors Inc. now owns 342 shares of the company's stock worth $34,000 after acquiring an additional 271 shares in the last quarter. Pineridge Advisors LLC acquired a new position in shares of Concentrix in the fourth quarter valued at $35,000. Parkside Financial Bank & Trust increased its holdings in shares of Concentrix by 146.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 630 shares of the company's stock valued at $62,000 after purchasing an additional 374 shares during the last quarter. Headlands Technologies LLC acquired a new position in shares of Concentrix in the third quarter valued at $65,000. Finally, Blue Trust Inc. increased its holdings in shares of Concentrix by 29.8% in the fourth quarter. Blue Trust Inc. now owns 1,151 shares of the company's stock valued at $113,000 after purchasing an additional 264 shares during the last quarter. 90.34% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Scotiabank reduced their price target on shares of Concentrix from $120.00 to $85.00 and set a "sector outperform" rating for the company in a report on Monday. Barrington Research cut their price objective 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. Finally, Bank of America reissued an "underperform" rating and issued a $60.00 price objective (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One investment 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's stock. According to data from MarketBeat.com, Concentrix has a consensus rating of "Hold" and a consensus target price of $74.75.

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.