Robert W. Baird Increases Concentrix (NASDAQ:CNXC) Price Target to $72.00

Concentrix (NASDAQ:CNXC - Free Report) had its target price hoisted by Robert W. Baird from $62.00 to $72.00 in a research report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Barrington Research reissued an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a report on Tuesday, June 24th. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Bank of America boosted their price objective on Concentrix from $59.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, June 9th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.75.

Concentrix Stock Down 6.2%

CNXC traded down $3.42 during mid-day trading on Thursday, reaching $51.71. 2,359,685 shares of the stock were exchanged, compared to its average volume of 734,237. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.65 and a current ratio of 1.61. The stock has a market capitalization of $3.30 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.67 and a beta of 0.56. The company has a 50 day moving average price of $53.86 and a two-hundred day moving average price of $49.54. Concentrix has a 1 year low of $36.28 and a 1 year high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The firm had revenue of $2.42 billion for the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%. Concentrix's revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. As a group, research analysts anticipate that Concentrix will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th will be given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a dividend yield of 2.57%. The ex-dividend date is Friday, July 25th. Concentrix's dividend payout ratio is presently 33.33%.

Insider Activity

In related news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction that occurred on Monday, March 31st. The shares were sold at an average price of $55.31, for a total value of $27,655.00. Following the transaction, the executive vice president now directly owns 39,130 shares in the company, valued at approximately $2,164,280.30. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Christopher A. Caldwell acquired 1,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was bought at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the transaction, the chief executive officer now owns 303,362 shares of the company's stock, valued at $13,954,652. The trade was a 0.33% increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 30,944 shares of company stock worth $1,510,158 over the last ninety days. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets purchased a new stake in Concentrix in the fourth quarter worth approximately $294,000. Raymond James Financial Inc. purchased a new stake in Concentrix in the fourth quarter worth approximately $4,752,000. Fifth Third Bancorp boosted its stake in Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after buying an additional 548 shares in the last quarter. American Century Companies Inc. purchased a new stake in Concentrix in the fourth quarter worth approximately $539,000. Finally, Y Intercept Hong Kong Ltd purchased a new stake in Concentrix in the fourth quarter worth approximately $294,000. 90.34% of the stock is currently owned by institutional investors.

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.