Concentrix (NASDAQ:CNXC) Earns “Outperform” Rating from Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Concentrix (NASDAQ:CNXC) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $84.00 price objective on the stock.

Other equities research analysts have also issued research reports about the stock. Bank of America upgraded shares of Concentrix from an underperform rating to a neutral rating and upped their target price for the company from $65.00 to $85.00 in a research note on Wednesday, August 28th. Canaccord Genuity Group reissued a buy rating and set a $125.00 price target on shares of Concentrix in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $94.75.

Concentrix Trading Down 1.2 %

Shares of CNXC opened at $63.38 on Friday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 1.56 and a current ratio of 1.54. Concentrix has a one year low of $53.89 and a one year high of $106.10. The stock has a 50-day moving average price of $68.36 and a 200 day moving average price of $63.82. The company has a market capitalization of $4.14 billion, a P/E ratio of 14.67, a P/E/G ratio of 0.70 and a beta of 0.61.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.63 by $0.06. The company had revenue of $2.38 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The business’s revenue was up 47.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. Sell-side analysts forecast that Concentrix will post 10.8 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 6th. Stockholders of record on Friday, July 26th were issued a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend was Friday, July 26th. Concentrix’s dividend payout ratio (DPR) is presently 28.01%.

Insider Buying and Selling

In related news, 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 transaction of $26,892.00. Following the completion of the transaction, the executive vice president now directly owns 29,727 shares in the company, valued at approximately $1,998,546.21. The sale was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders have sold 1,200 shares of company stock valued at $82,028. Insiders own 3.00% of the company’s stock.

Institutional Trading of Concentrix

A number of large investors have recently modified their holdings of the company. Groupe Bruxelles Lambert acquired a new position in Concentrix during the 4th quarter valued at about $861,662,000. Vanguard Group Inc. grew its holdings in Concentrix by 23.9% in the 4th quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock worth $526,788,000 after buying an additional 1,034,546 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in Concentrix in the 2nd quarter valued at approximately $62,738,000. Pzena Investment Management LLC raised its stake in Concentrix by 246.3% during the 1st quarter. Pzena Investment Management LLC now owns 1,013,208 shares of the company’s stock valued at $67,095,000 after acquiring an additional 720,616 shares in the last quarter. Finally, Impactive Capital LP raised its stake in Concentrix by 13.0% during the 1st quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock valued at $254,707,000 after acquiring an additional 443,045 shares in the last quarter. 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.