Cormac J. Twomey Sells 400 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $63.21, for a total value of $25,284.00. Following the completion of the transaction, the executive vice president now owns 30,127 shares of the company’s stock, valued at $1,904,327.67. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Concentrix Trading Up 3.4 %

NASDAQ CNXC traded up $2.17 during trading hours on Tuesday, hitting $65.95. 631,359 shares of the company were exchanged, compared to its average volume of 518,632. The stock has a 50-day moving average price of $60.56 and a 200 day moving average price of $72.81. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21. Concentrix Co. has a 52 week low of $53.89 and a 52 week high of $106.10. The stock has a market cap of $4.35 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 0.68 and a beta of 0.60.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Wednesday, June 26th. The company reported $2.69 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.06. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The company had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm’s revenue for the quarter was up 47.4% on a year-over-year basis. Analysts forecast that Concentrix Co. will post 10.62 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 6th. Shareholders of record on Friday, July 26th will be given a dividend of $0.303 per share. The ex-dividend date of this dividend is Friday, July 26th. This represents a $1.21 annualized dividend and a dividend yield of 1.84%. Concentrix’s dividend payout ratio (DPR) is presently 28.01%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CNXC shares. Barrington Research reiterated an “outperform” rating and set a $84.00 target price on shares of Concentrix in a research report on Friday, June 21st. Bank of America restated an “underperform” rating and issued a $60.00 target price (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Scotiabank lowered their price target on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 price target on shares of Concentrix in a research report on Thursday, June 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Concentrix has an average rating of “Hold” and an average target price of $84.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. GAMMA Investing LLC boosted its position in shares of Concentrix by 1,005.0% during the second quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after buying an additional 402 shares during the period. First Horizon Advisors Inc. boosted its position in shares of 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 buying an additional 271 shares during the period. Pineridge Advisors LLC purchased a new position in shares of Concentrix during the fourth quarter valued at approximately $35,000. Parkside Financial Bank & Trust boosted its position in shares of 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 buying an additional 374 shares during the period. Finally, Blue Trust Inc. boosted its position in shares of Concentrix by 29.8% during the fourth quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after buying an additional 264 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.