Concentrix Co. (NASDAQ:CNXC) Director Buys $25,110.00 in Stock

Concentrix Co. (NASDAQ:CNXC) Director Kathryn Hayley purchased 500 shares of the firm’s stock in a transaction dated Wednesday, January 22nd. The shares were bought at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the purchase, the director now directly owns 3,034 shares of the company’s stock, valued at $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Concentrix Stock Performance

CNXC stock opened at $52.54 on Friday. Concentrix Co. has a twelve month low of $36.28 and a twelve month high of $95.04. The company has a quick ratio of 1.57, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The company has a market cap of $3.41 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 0.70 and a beta of 0.63. The business’s fifty day moving average is $44.66 and its 200-day moving average is $54.25.

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. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.36 earnings per share. Equities research analysts forecast that Concentrix Co. will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

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

Institutional Investors Weigh In On Concentrix

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its position in shares of Concentrix by 1.3% in the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company’s stock valued at $71,850,000 after buying an additional 18,304 shares in the last quarter. Nordea Investment Management AB grew its stake in Concentrix by 43.9% in the fourth quarter. Nordea Investment Management AB now owns 70,654 shares of the company’s stock valued at $3,076,000 after acquiring an additional 21,568 shares during the period. GSA Capital Partners LLP bought a new stake in shares of Concentrix in the third quarter worth about $1,243,000. Raymond James & Associates raised its position in shares of Concentrix by 73.3% during the third quarter. Raymond James & Associates now owns 55,313 shares of the company’s stock worth $2,835,000 after purchasing an additional 23,387 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Concentrix by 24.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company’s stock valued at $3,319,000 after purchasing an additional 12,870 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNXC shares. Robert W. Baird started coverage on Concentrix in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective on the stock. Canaccord Genuity Group decreased their price target on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. Finally, Baird R W upgraded Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. One equities research 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 stock. According to MarketBeat, Concentrix currently has an average rating of “Buy” and a consensus target price 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.