Concentrix Co. (NASDAQ:CNXC) Given Consensus Rating of “Hold” by Analysts

Concentrix Co. (NASDAQ:CNXC) has been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $84.80.

A number of equities research analysts have recently weighed in on CNXC shares. Barrington Research restated an “outperform” rating and issued a $84.00 price objective on shares of Concentrix in a report on Friday, June 21st. Canaccord Genuity Group restated a “buy” rating and issued a $125.00 price objective on shares of Concentrix in a report on Thursday, June 27th. Finally, Scotiabank reduced their price objective on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 400 shares of the firm’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $63.21, for a total transaction of $25,284.00. Following the transaction, the executive vice president now directly owns 30,127 shares of the company’s stock, valued at approximately $1,904,327.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last three months, insiders have sold 1,200 shares of company stock valued at $71,800. Insiders own 3.00% of the company’s stock.

Institutional Trading of Concentrix

Several hedge funds and other institutional investors have recently made changes to their positions in CNXC. Groupe Bruxelles Lambert acquired a new stake in shares of Concentrix in the fourth quarter valued at about $861,662,000. Vanguard Group Inc. lifted its stake in shares of Concentrix by 23.9% in the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after purchasing an additional 1,034,546 shares during the period. Pzena Investment Management LLC lifted its stake in shares of Concentrix by 246.3% in the first quarter. Pzena Investment Management LLC now owns 1,013,208 shares of the company’s stock valued at $67,095,000 after purchasing an additional 720,616 shares during the period. Impactive Capital LP lifted its stake in shares of Concentrix by 13.0% in the first quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock valued at $254,707,000 after purchasing an additional 443,045 shares during the period. Finally, Copeland Capital Management LLC acquired a new stake in shares of Concentrix in the fourth quarter valued at about $40,339,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

Concentrix stock opened at $67.43 on Monday. The firm has a 50 day simple moving average of $63.49 and a 200-day simple moving average of $69.14. Concentrix has a 1-year low of $53.89 and a 1-year high of $106.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. The stock has a market cap of $4.41 billion, a price-to-earnings ratio of 15.61, a price-to-earnings-growth ratio of 0.68 and a beta of 0.60.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.63 by $0.06. Concentrix had a net margin of 3.08% and a return on equity of 17.00%. The firm had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the prior year, the business posted $2.50 EPS. The business’s revenue for the quarter was up 47.4% compared to the same quarter last year. On average, analysts expect that Concentrix will post 10.8 EPS for the current year.

Concentrix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 26th will be given a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, July 26th. Concentrix’s payout ratio is currently 28.01%.

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.