Concentrix Co. (NASDAQ:CNXC) CEO Acquires $46,000.00 in Stock

Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell bought 1,000 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was purchased at an average price of $46.00 per share, for a total transaction of $46,000.00. Following the transaction, the chief executive officer now owns 303,362 shares of the company’s stock, valued at approximately $13,954,652. This represents a 0.33 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Concentrix Stock Down 1.8 %

NASDAQ CNXC opened at $50.21 on Friday. The business’s fifty day simple moving average is $47.60 and its 200-day simple moving average is $46.27. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm has a market cap of $3.21 billion, a PE ratio of 13.53, a P/E/G ratio of 0.63 and a beta of 0.51. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $77.00.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.21. The company had revenue of $2.37 billion for the quarter, compared to the consensus estimate of $2.37 billion. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. Concentrix’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.57 earnings per share. As a group, equities analysts anticipate that Concentrix Co. will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, April 25th. This represents a $1.33 annualized dividend and a yield of 2.65%. Concentrix’s dividend payout ratio (DPR) is 33.33%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CNXC. Barrington Research reduced their price objective on Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a research note on Monday, March 24th. Bank of America increased their target price on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday, March 27th. Finally, Canaccord Genuity Group lowered their price target on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. One investment 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. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $69.60.

Hedge Funds Weigh In On Concentrix

Large investors have recently modified their holdings of the business. Unified Investment Management increased its position in shares of Concentrix by 40.7% during the 1st quarter. Unified Investment Management now owns 19,146 shares of the company’s stock worth $1,065,000 after purchasing an additional 5,536 shares during the last quarter. Copeland Capital Management LLC increased its position in shares of Concentrix by 3.0% during the first quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company’s stock valued at $76,418,000 after acquiring an additional 40,226 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in shares of Concentrix during the first quarter valued at about $243,000. Blue Trust Inc. raised its stake in shares of Concentrix by 29.9% in the 1st quarter. Blue Trust Inc. now owns 3,129 shares of the company’s stock valued at $174,000 after acquiring an additional 720 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new position in shares of Concentrix in the 1st quarter worth approximately $495,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.