Concentrix (NASDAQ:CNXC) Sees Strong Trading Volume

Shares of Concentrix Co. (NASDAQ:CNXC - Get Free Report) saw an uptick in trading volume on Thursday . 364,453 shares were traded during mid-day trading, a decline of 32% from the previous session's volume of 536,126 shares.The stock last traded at $58.14 and had previously closed at $57.49.

Analysts Set New Price Targets

Several research firms have commented on CNXC. Bank of America reissued an "underperform" rating and issued a $60.00 target price (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Barrington Research reduced their price objective on Concentrix from $121.00 to $84.00 and set an "outperform" rating for the company in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $95.80.

Concentrix Stock Performance

The firm has a market capitalization of $3.94 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 0.71 and a beta of 0.48. The company has a current ratio of 1.56, a quick ratio of 1.38 and a debt-to-equity ratio of 1.23. The business's 50 day simple moving average is $73.96 and its two-hundred day simple moving average is $83.09.

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

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be issued a $0.303 dividend. The ex-dividend date of this dividend is Thursday, April 25th. This represents a $1.21 annualized dividend and a yield of 2.04%. This is an increase from Concentrix's previous quarterly dividend of $0.30. Concentrix's dividend payout ratio is currently 24.95%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Algert Global LLC bought a new position in shares of Concentrix in the third quarter worth about $1,549,000. Copeland Capital Management LLC bought a new position in shares of Concentrix in the fourth quarter worth about $40,339,000. Blue Trust Inc. grew 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 worth $113,000 after purchasing an additional 264 shares during the last quarter. Mariner LLC grew its holdings in shares of Concentrix by 211.5% in the third quarter. Mariner LLC now owns 19,182 shares of the company's stock worth $1,537,000 after purchasing an additional 13,024 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Concentrix by 65.5% in the third quarter. Tower Research Capital LLC TRC now owns 4,329 shares of the company's stock worth $347,000 after purchasing an additional 1,713 shares during the last quarter. 90.34% of the stock is currently owned by 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.