Concentrix (NASDAQ:CNXC) Shares Down 3.1%

Shares of Concentrix Co. (NASDAQ:CNXC - Get Free Report) fell 3.1% during mid-day trading on Friday . The company traded as low as $57.55 and last traded at $57.59. 201,215 shares changed hands during trading, a decline of 63% from the average session volume of 550,908 shares. The stock had previously closed at $59.44.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Bank of America reaffirmed an "underperform" rating and set a $60.00 price target (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. Barrington Research cut 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Concentrix has a consensus rating of "Hold" and an average price target of $95.80.

Concentrix Stock Down 0.8 %

The firm's 50 day simple moving average is $73.96 and its 200 day simple moving average is $83.09. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 11.93, a price-to-earnings-growth ratio of 0.66 and a beta of 0.48. The company has a quick ratio of 1.38, a current ratio of 1.56 and a debt-to-equity ratio of 1.23.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 24th. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.15. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.20 billion. Sell-side analysts anticipate that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be issued a $0.303 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.06%. This is a boost 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 presently 24.95%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CNXC. Quarry LP bought a new position in Concentrix in the first quarter valued at approximately $26,000. First Horizon Advisors Inc. grew its stake 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 buying an additional 271 shares in the last quarter. Pineridge Advisors LLC acquired a new position in Concentrix during the fourth quarter valued at approximately $35,000. Parkside Financial Bank & Trust raised its holdings in shares of Concentrix by 146.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company's stock worth $62,000 after buying an additional 374 shares in the last quarter. Finally, Headlands Technologies LLC bought a new position in shares of Concentrix in the third quarter worth about $65,000. 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.