Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey Sells 400 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was 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 directly owns 30,927 shares of the company’s stock, valued at approximately $1,701,294.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Concentrix Stock Up 1.2 %

CNXC opened at $55.30 on Thursday. The company has a fifty day moving average of $63.73 and a two-hundred day moving average of $80.61. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.56 and a current ratio of 1.56. Concentrix Co. has a fifty-two week low of $53.89 and a fifty-two week high of $106.10. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 0.63 and a beta of 0.56.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The business had revenue of $2.40 billion during the quarter, compared to analyst estimates of $2.38 billion. On average, research analysts expect 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. Shareholders of record on Friday, April 26th will be issued a $0.303 dividend. This is an increase from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, April 25th. This represents a $1.21 dividend on an annualized basis and a yield of 2.19%. Concentrix’s dividend payout ratio is presently 24.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Fifth Third Bancorp lifted its position in Concentrix by 9.1% during the fourth quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock worth $145,000 after buying an additional 123 shares in the last quarter. Ieq Capital LLC raised its holdings in shares of Concentrix by 3.3% during the 4th quarter. Ieq Capital LLC now owns 4,920 shares of the company’s stock worth $483,000 after acquiring an additional 157 shares during the period. Miracle Mile Advisors LLC boosted its position in shares of Concentrix by 4.0% during the 3rd quarter. Miracle Mile Advisors LLC now owns 4,366 shares of the company’s stock valued at $350,000 after acquiring an additional 168 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Concentrix by 1.4% in the third quarter. Arizona State Retirement System now owns 12,598 shares of the company’s stock valued at $1,009,000 after purchasing an additional 168 shares during the period. Finally, Treasurer of the State of North Carolina increased its position in Concentrix by 1.0% during the fourth quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company’s stock worth $1,912,000 after purchasing an additional 190 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CNXC has been the topic of several research reports. Bank of America restated an “underperform” rating and issued a $60.00 target price (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Scotiabank reduced their price objective on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research note on Monday. Finally, Barrington Research dropped their target price on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.