Christopher A. Caldwell Purchases 900 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell acquired 900 shares of the company’s stock in a transaction on Friday, April 19th. The shares were acquired at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the completion of the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at $13,053,997.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Concentrix Price Performance

Shares of CNXC stock traded up $0.01 during trading on Monday, hitting $55.20. The company had a trading volume of 539,517 shares, compared to its average volume of 555,596. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The stock’s 50-day moving average is $67.50 and its two-hundred day moving average is $81.82. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 11.36, a price-to-earnings-growth ratio of 0.63 and a beta of 0.48. Concentrix Co. has a 52 week low of $54.16 and a 52 week high of $106.44.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing the consensus estimate of $2.36 by ($0.03). The company had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. As a group, analysts predict that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be given a $0.303 dividend. This represents a $1.21 annualized dividend and a dividend yield of 2.20%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, April 25th. Concentrix’s dividend payout ratio is 24.95%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. grew its position in Concentrix by 381.7% during the fourth quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after acquiring an additional 271 shares during the last quarter. Pineridge Advisors LLC bought a new position in Concentrix during the fourth quarter valued at approximately $35,000. Parkside Financial Bank & Trust grew its position in Concentrix by 146.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after acquiring an additional 374 shares during the last quarter. Headlands Technologies LLC bought a new position in Concentrix during the third quarter valued at approximately $65,000. Finally, Ronald Blue Trust Inc. grew its position in Concentrix by 382.1% during the third quarter. Ronald Blue Trust Inc. now owns 887 shares of the company’s stock valued at $72,000 after acquiring an additional 703 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CNXC shares. Barrington Research lowered their price target on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a report on Wednesday, March 27th. Bank of America reissued an “underperform” rating and issued a $60.00 price target (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $82.25.

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.