Concentrix Corporation (NASDAQ:CNXC) Given Consensus Rating of “Hold” by Brokerages

Shares of Concentrix Corporation (NASDAQ:CNXC) have earned a consensus rating of “Hold” from the five analysts that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $66.25.

Several equities research analysts recently commented on CNXC shares. Weiss Ratings reissued a “sell (d+)” rating on shares of Concentrix in a research note on Saturday, September 27th. Wall Street Zen downgraded shares of Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Concentrix in a research note on Tuesday, September 23rd. Barrington Research reissued an “outperform” rating and issued a $62.00 price objective on shares of Concentrix in a research note on Wednesday, September 24th. Finally, Robert W. Baird lowered their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, September 29th.

Concentrix Stock Up 0.9%

Shares of NASDAQ:CNXC opened at $48.26 on Monday. Concentrix has a one year low of $36.28 and a one year high of $66.00. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.61. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 0.70 and a beta of 0.50. The firm has a fifty day moving average price of $51.20 and a two-hundred day moving average price of $52.81.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 4th. Investors of record on Friday, October 24th will be issued a $0.36 dividend. This is an increase from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, October 24th. Concentrix’s payout ratio is currently 28.12%.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the sale, the executive vice president owned 37,130 shares of the company’s stock, valued at $2,150,198.30. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CNXC. Geneos Wealth Management Inc. increased its stake in shares of Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after acquiring an additional 522 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Concentrix by 473.8% during the second quarter. IFP Advisors Inc now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 578 shares in the last quarter. UMB Bank n.a. raised its stake in shares of Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company’s stock valued at $38,000 after purchasing an additional 217 shares in the last quarter. First Horizon Advisors Inc. raised its position in Concentrix by 111.8% in the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock worth $47,000 after acquiring an additional 444 shares in the last quarter. Finally, True Wealth Design LLC raised its position in Concentrix by 39.3% in the second quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock worth $61,000 after acquiring an additional 328 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.