Concentrix Co. (NASDAQ:CNXC) Receives $75.00 Consensus Price Target from Brokerages

Shares of Concentrix Co. (NASDAQ:CNXC) have received an average rating of “Buy” from the six brokerages that are covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $75.00.

Separately, Canaccord Genuity Group decreased their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th.

Concentrix Trading Down 0.4 %

Shares of NASDAQ:CNXC opened at $47.71 on Monday. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 0.66 and a beta of 0.67. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.42 and a current ratio of 1.42. The stock’s 50-day simple moving average is $46.59 and its two-hundred day simple moving average is $52.64. Concentrix has a 52-week low of $36.28 and a 52-week high of $85.35.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.25. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. During the same quarter last year, the company earned $3.36 EPS. The firm’s quarterly revenue was up 9.7% on a year-over-year basis. Analysts expect that Concentrix will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 11th. Investors of record on Friday, January 31st were given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.79%. The ex-dividend date was Friday, January 31st. Concentrix’s dividend payout ratio (DPR) is presently 35.85%.

Insiders Place Their Bets

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the sale, the executive vice president now directly owns 41,111 shares of the company’s stock, valued at approximately $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 1,500 shares of company stock worth $72,400. Company insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Concentrix

Hedge funds and other institutional investors have recently made changes to their positions in the business. ExodusPoint Capital Management LP bought a new stake in Concentrix in the fourth quarter worth $1,969,000. Franklin Resources Inc. grew its stake in shares of Concentrix by 403.0% during the fourth quarter. Franklin Resources Inc. now owns 45,482 shares of the company’s stock valued at $1,968,000 after purchasing an additional 36,440 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Concentrix during the fourth quarter valued at approximately $323,000. Norges Bank acquired a new position in Concentrix in the fourth quarter valued at approximately $15,315,000. Finally, Loomis Sayles & Co. L P raised its holdings in shares of Concentrix by 48.5% during the fourth quarter. Loomis Sayles & Co. L P now owns 453,773 shares of the company’s stock worth $19,634,000 after acquiring an additional 148,281 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.