Kathryn Hayley Acquires 500 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) Director Kathryn Hayley bought 500 shares of the stock in a transaction on Wednesday, January 22nd. The shares were purchased at an average price of $50.22 per share, with a total value of $25,110.00. Following the acquisition, the director now owns 3,034 shares in the company, valued at approximately $152,367.48. This represents a 19.73 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Concentrix Stock Up 0.2 %

CNXC stock opened at $52.54 on Friday. The company has a market cap of $3.41 billion, a price-to-earnings ratio of 14.16, a P/E/G ratio of 0.70 and a beta of 0.63. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $95.04. The business has a 50 day moving average price of $44.66 and a two-hundred day moving average price of $54.25. The company has a quick ratio of 1.57, a current ratio of 1.42 and a debt-to-equity ratio of 1.17.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The business had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same period last year, the business earned $3.36 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Analysts anticipate that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st will be issued a $0.3328 dividend. The ex-dividend date is Friday, January 31st. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.53%. Concentrix’s payout ratio is 35.85%.

Hedge Funds Weigh In On Concentrix

A number of hedge funds and other institutional investors have recently bought and sold shares of CNXC. Copeland Capital Management LLC raised its stake in Concentrix by 32.9% in the fourth quarter. Copeland Capital Management LLC now owns 1,333,206 shares of the company’s stock valued at $57,688,000 after buying an additional 329,831 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Concentrix by 24.9% during the 4th quarter. Pacer Advisors Inc. now owns 25,084 shares of the company’s stock worth $1,085,000 after acquiring an additional 4,997 shares during the last quarter. KBC Group NV raised its stake in Concentrix by 68.3% in the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock valued at $87,000 after acquiring an additional 815 shares during the period. Impact Partnership Wealth LLC acquired a new stake in Concentrix during the 4th quarter valued at $323,000. Finally, Harbor Capital Advisors Inc. boosted its position in Concentrix by 46.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 31,756 shares of the company’s stock worth $1,374,000 after purchasing an additional 10,089 shares during the period. Institutional investors own 90.34% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CNXC. Canaccord Genuity Group reduced their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Robert W. Baird began coverage on shares of Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target for the company. Finally, Baird R W raised shares of Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $75.00.

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.