Analysts Set Concentrix Co. (NASDAQ:CNXC) Target Price at $75.00

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

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

Insider Activity

In other news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total value of $27,800.00. Following the completion of the transaction, the executive vice president now directly owns 41,111 shares of the company’s stock, valued at $2,285,771.60. This represents a 1.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Concentrix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC grew its holdings in Concentrix by 81.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after purchasing an additional 286 shares during the period. Rhumbline Advisers boosted its holdings in shares of Concentrix by 0.3% in the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock worth $5,565,000 after acquiring an additional 324 shares during the period. Parkside Financial Bank & Trust boosted its holdings in shares of Concentrix by 58.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock worth $52,000 after acquiring an additional 444 shares during the period. Xponance Inc. raised its position in shares of Concentrix by 8.9% in the fourth quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after buying an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Concentrix by 159.6% in the fourth quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after buying an additional 490 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Concentrix Stock Up 5.5 %

Shares of Concentrix stock opened at $47.10 on Friday. Concentrix has a one year low of $36.28 and a one year high of $77.00. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The stock’s 50-day moving average is $47.54 and its 200 day moving average is $50.09. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 12.70, a PEG ratio of 0.63 and a beta of 0.69.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, January 15th. The company reported $3.26 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 analyst estimates of $2.44 billion. During the same quarter in the prior year, the company earned $3.36 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Concentrix will post 10.11 EPS for the current year.

Concentrix Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st were issued a $0.3328 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, January 31st. Concentrix’s dividend payout ratio is presently 35.85%.

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.