Cormac J. Twomey Sells 500 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the sale, the executive vice president now owns 41,111 shares in the company, valued at approximately $2,285,771.60. This trade represents a 1.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Concentrix Stock Performance

Shares of NASDAQ CNXC opened at $52.28 on Monday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.57. The firm has a market cap of $3.37 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 0.75 and a beta of 0.63. The stock’s fifty day moving average price is $46.07 and its two-hundred day moving average price is $53.58. Concentrix Co. has a one year low of $36.28 and a one year high of $91.20.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $3.36 earnings per share. On average, equities analysts forecast that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 11th. Investors of record on Friday, January 31st will be given a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, January 31st. Concentrix’s dividend payout ratio is currently 35.85%.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group dropped their price objective on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $75.00.

Hedge Funds Weigh In On Concentrix

A number of hedge funds have recently added to or reduced their stakes in CNXC. Invenomic Capital Management LP grew its holdings in shares of Concentrix by 354.3% during the 3rd quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after purchasing an additional 368,295 shares in the last quarter. Copeland Capital Management LLC increased its holdings in Concentrix by 32.9% in the 4th 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. Thompson Investment Management Inc. raised its position in shares of Concentrix by 1,232.8% in the 4th quarter. Thompson Investment Management Inc. now owns 140,411 shares of the company’s stock valued at $6,076,000 after buying an additional 129,876 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Concentrix by 212.0% during the 2nd quarter. Millennium Management LLC now owns 138,532 shares of the company’s stock worth $8,766,000 after acquiring an additional 94,130 shares during the period. Finally, Neo Ivy Capital Management acquired a new stake in shares of Concentrix during the 3rd quarter worth approximately $2,844,000. Institutional investors own 90.34% of the company’s stock.

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.