Robert W. Baird Initiates Coverage on Concentrix (NASDAQ:CNXC)

Robert W. Baird assumed coverage on shares of Concentrix (NASDAQ:CNXC) in a report issued on Thursday morning, MarketBeat reports. The firm issued an outperform rating and a $70.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Bank of America dropped their price target on shares of Concentrix from $85.00 to $70.00 and set a neutral rating for the company in a research report on Thursday, September 26th. Canaccord Genuity Group dropped their target price on Concentrix from $125.00 to $100.00 and set a buy rating for the company in a report on Thursday, September 26th. Finally, Barrington Research decreased their price target on Concentrix from $84.00 to $70.00 and set an outperform rating on the stock in a research note on Thursday, September 26th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Buy and a consensus price target of $79.00.

Concentrix Stock Performance

NASDAQ:CNXC opened at $52.58 on Thursday. Concentrix has a 52-week low of $50.23 and a 52-week high of $106.10. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 12.17, a PEG ratio of 0.71 and a beta of 0.58. The firm’s 50-day moving average is $65.82 and its 200-day moving average is $63.22. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.56 and a current ratio of 1.57.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing the consensus estimate of $2.93 by ($0.06). The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The firm’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period last year, the business earned $2.54 earnings per share. Equities research analysts anticipate that Concentrix will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Friday, October 25th will be issued a dividend of $0.333 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.53%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, October 25th. Concentrix’s dividend payout ratio (DPR) is currently 28.01%.

Insider Buying and Selling at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell sold 9,823 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares of the company’s stock, valued at $12,745,020.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the completion of the transaction, the chief executive officer now owns 241,841 shares in the company, valued at $12,745,020.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $67.23, for a total value of $26,892.00. Following the transaction, the executive vice president now directly owns 29,727 shares in the company, valued at approximately $1,998,546.21. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,167 shares of company stock worth $653,747. 3.00% of the stock is currently owned by insiders.

Institutional Trading of Concentrix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in Concentrix during the 2nd quarter valued at about $1,445,000. Vanguard Group Inc. lifted its holdings in 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 buying an additional 1,034,546 shares during the period. Natixis bought a new position in Concentrix in the first quarter valued at approximately $542,000. Tweedy Browne Co LLC boosted its stake in Concentrix by 21.6% in the first quarter. Tweedy Browne Co LLC now owns 173,338 shares of the company’s stock valued at $11,478,000 after acquiring an additional 30,798 shares during the last quarter. Finally, Groupe Bruxelles Lambert acquired a new stake in Concentrix during the 4th quarter worth $861,662,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.