Concentrix Corporation (NASDAQ:CNXC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Concentrix Corporation (NASDAQ:CNXCGet Free Report) have received an average rating of “Hold” from the five analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $48.50.

Several research firms have recently commented on CNXC. Wall Street Zen cut shares of Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Canaccord Genuity Group dropped their target price on shares of Concentrix from $80.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a research report on Monday, April 27th. Robert W. Baird dropped their target price on shares of Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Finally, Barrington Research dropped their target price on shares of Concentrix from $62.00 to $38.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th.

View Our Latest Report on CNXC

Concentrix Trading Up 2.6%

Shares of CNXC opened at $24.03 on Tuesday. The stock has a market capitalization of $1.47 billion, a P/E ratio of -1.12, a PEG ratio of 0.30 and a beta of 0.37. The firm has a fifty day simple moving average of $28.02 and a two-hundred day simple moving average of $34.50. Concentrix has a twelve month low of $22.05 and a twelve month high of $62.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43.

Concentrix (NASDAQ:CNXCGet Free Report) last released its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the firm earned $2.79 EPS. The business’s revenue was up 5.4% on a year-over-year basis. On average, research analysts anticipate that Concentrix will post 10.42 EPS for the current year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend was Friday, April 24th. Concentrix’s dividend payout ratio (DPR) is currently -6.68%.

Insider Activity

In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the sale, the insider directly owned 2,773,667 shares of the company’s stock, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Andre S. Valentine bought 2,500 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was bought at an average cost of $27.95 per share, with a total value of $69,875.00. Following the completion of the transaction, the chief financial officer owned 89,066 shares in the company, valued at approximately $2,489,394.70. This trade represents a 2.89% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of CNXC. Kopernik Global Investors LLC purchased a new position in Concentrix during the 1st quarter valued at about $44,523,000. AQR Capital Management LLC lifted its position in Concentrix by 25.5% during the 2nd quarter. AQR Capital Management LLC now owns 4,305,469 shares of the company’s stock valued at $226,252,000 after acquiring an additional 875,556 shares during the period. Pzena Investment Management LLC lifted its position in Concentrix by 32.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company’s stock valued at $121,713,000 after acquiring an additional 714,604 shares during the period. Quantinno Capital Management LP lifted its position in Concentrix by 171.4% during the 1st quarter. Quantinno Capital Management LP now owns 1,076,413 shares of the company’s stock valued at $29,451,000 after acquiring an additional 679,749 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Concentrix by 28.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,491,270 shares of the company’s stock valued at $103,588,000 after acquiring an additional 551,778 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Company Profile

(Get Free Report)

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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Analyst Recommendations for Concentrix (NASDAQ:CNXC)

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