Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells 500 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $44.18, for a total transaction of $22,090.00. Following the sale, the executive vice president now owns 24,936 shares of the company’s stock, valued at approximately $1,101,672.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Concentrix Stock Down 0.1 %

Shares of Concentrix stock traded down $0.06 on Tuesday, hitting $44.43. The company had a trading volume of 604,459 shares, compared to its average volume of 558,422. The firm has a market capitalization of $2.88 billion, a P/E ratio of 14.44, a P/E/G ratio of 0.61 and a beta of 0.58. Concentrix Co. has a twelve month low of $43.91 and a twelve month high of $106.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a 50-day moving average of $59.92 and a 200-day moving average of $61.66.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). The business 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 business’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 EPS. Research analysts predict that Concentrix Co. will post 10.18 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be given a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is currently 43.18%.

Institutional Trading of Concentrix

A number of institutional investors have recently made changes to their positions in CNXC. Impactive Capital LP raised its position in Concentrix by 13.0% during the first quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after acquiring an additional 443,045 shares in the last quarter. Capital International Investors increased its holdings in shares of Concentrix by 0.3% in the first quarter. Capital International Investors now owns 2,525,762 shares of the company’s stock valued at $167,256,000 after purchasing an additional 7,333 shares during the last quarter. Pzena Investment Management LLC increased its holdings in shares of Concentrix by 46.6% in the second quarter. Pzena Investment Management LLC now owns 1,484,907 shares of the company’s stock valued at $93,965,000 after purchasing an additional 471,699 shares during the last quarter. Copeland Capital Management LLC increased its holdings in shares of Concentrix by 1.8% in the third quarter. Copeland Capital Management LLC now owns 1,003,375 shares of the company’s stock valued at $51,423,000 after purchasing an additional 17,653 shares during the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in shares of Concentrix in the second quarter valued at $62,738,000. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on CNXC. Canaccord Genuity Group decreased their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, September 26th. Robert W. Baird began coverage on shares of Concentrix in a report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. Barrington Research decreased their price objective on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Finally, Bank of America reduced their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $79.00.

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.