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

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

Concentrix Price Performance

NASDAQ CNXC traded up $2.12 during trading on Thursday, reaching $52.44. The company’s stock had a trading volume of 899,047 shares, compared to its average volume of 858,421. The stock has a market capitalization of $3.40 billion, a PE ratio of 14.13, a P/E/G ratio of 0.70 and a beta of 0.63. 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 fifty day moving average of $44.12 and a 200 day moving average of $54.44. Concentrix Co. has a one year low of $36.28 and a one year high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 EPS 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 revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the company earned $3.36 EPS. Analysts expect that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st will be given a dividend of $0.3328 per share. The ex-dividend date is Friday, January 31st. This represents a $1.33 annualized dividend and a dividend yield of 2.54%. Concentrix’s dividend payout ratio (DPR) is presently 35.85%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CNXC. Bank of America dropped their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, September 26th. Canaccord Genuity Group decreased their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Robert W. Baird assumed coverage on Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective on the stock. Baird R W upgraded Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Finally, Barrington Research decreased their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $75.00.

Hedge Funds Weigh In On Concentrix

Several institutional investors have recently modified their holdings of CNXC. State Street Corp boosted its holdings in Concentrix by 1.3% during the 3rd quarter. State Street Corp now owns 1,401,953 shares of the company’s stock valued at $71,850,000 after acquiring an additional 18,304 shares during the period. Copeland Capital Management LLC boosted its holdings in Concentrix by 1.8% during the 3rd quarter. Copeland Capital Management LLC now owns 1,003,375 shares of the company’s stock valued at $51,423,000 after acquiring an additional 17,653 shares during the period. Geode Capital Management LLC boosted its holdings in Concentrix by 5.2% during the 3rd quarter. Geode Capital Management LLC now owns 878,092 shares of the company’s stock valued at $45,013,000 after acquiring an additional 43,295 shares during the period. AQR Capital Management LLC boosted its holdings in Concentrix by 74.4% during the 2nd quarter. AQR Capital Management LLC now owns 813,864 shares of the company’s stock valued at $51,160,000 after acquiring an additional 347,230 shares during the period. Finally, Invenomic Capital Management LP boosted its holdings in Concentrix by 354.3% during the 3rd quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock valued at $24,202,000 after acquiring an additional 368,295 shares during the period. 90.34% of the stock is currently owned by institutional investors.

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.