Concentrix (NASDAQ:CNXC) Reaches New 1-Year Low at $56.21

Concentrix Co. (NASDAQ:CNXC)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $56.21 and last traded at $56.21, with a volume of 73798 shares. The stock had previously closed at $57.54.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of research reports. Barrington Research lowered their target price on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, March 27th. Bank of America restated 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 analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Concentrix has an average rating of “Hold” and a consensus price target of $82.25.

Concentrix Price Performance

The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 0.66 and a beta of 0.48. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The company has a 50 day moving average price of $69.24 and a 200 day moving average price of $82.34.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $3.07 EPS for the quarter, topping analysts’ consensus estimates of $2.92 by $0.15. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The firm had revenue of $2.23 billion during the quarter, compared to analyst estimates of $2.20 billion. As a group, equities research analysts forecast that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently disclosed 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. 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 2.18%. The ex-dividend date is Thursday, April 25th. Concentrix’s dividend payout ratio is currently 24.95%.

Institutional Trading of Concentrix

A number of institutional investors have recently bought and sold shares of the business. Quarry LP bought a new position in Concentrix during the first quarter worth about $26,000. First Horizon Advisors Inc. increased its position in shares of 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 stake in shares of Concentrix during the fourth quarter worth $35,000. Parkside Financial Bank & Trust boosted its position in shares of Concentrix by 146.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after buying an additional 374 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in shares of Concentrix in the third quarter valued at approximately $65,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.