Christopher A. Caldwell Sells 9,823 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $52.70, for a total value of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares in the company, valued at approximately $12,745,020.70. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Concentrix Price Performance

Concentrix stock opened at $52.58 on Friday. The stock’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 current ratio of 1.57 and a quick ratio of 1.56. The firm has a market cap of $3.42 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.71 and a beta of 0.58. Concentrix Co. has a one year low of $50.23 and a one year high of $106.10.

Concentrix (NASDAQ:CNXC) last posted 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 company had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. Concentrix’s revenue was up 46.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.54 earnings per share. As a group, research analysts expect that Concentrix Co. will post 10.18 EPS for the current year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be paid a $0.333 dividend. 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. This represents a $1.33 annualized dividend and a yield of 2.53%. Concentrix’s payout ratio is 28.01%.

Hedge Funds Weigh In On Concentrix

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new position in Concentrix in the second quarter valued at approximately $1,445,000. Vanguard Group Inc. lifted its stake 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 acquired a new position in Concentrix in the first quarter valued at approximately $542,000. Tweedy Browne Co LLC lifted 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 buying an additional 30,798 shares during the period. Finally, Groupe Bruxelles Lambert acquired a new position in Concentrix in the fourth quarter valued at approximately $861,662,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CNXC. Canaccord Genuity Group reduced their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Baird R W upgraded Concentrix to a “strong-buy” rating in a report on Thursday. Robert W. Baird began coverage on Concentrix in a report on Thursday. They set an “outperform” rating and a $70.00 price target on the stock. Bank of America reduced their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Finally, Barrington Research reduced their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average 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.