Cormac J. Twomey Sells 1,544 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 1,544 shares of Concentrix stock in a transaction dated Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the completion of the sale, the executive vice president now directly owns 27,783 shares in the company, valued at $1,427,490.54. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Concentrix Stock Performance

NASDAQ CNXC opened at $52.58 on Friday. The firm has a market capitalization of $3.43 billion, a P/E ratio of 12.17, a price-to-earnings-growth ratio of 0.55 and a beta of 0.58. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.18. The firm’s fifty day moving average price is $66.12 and its two-hundred day moving average price is $63.28. Concentrix Co. has a 1 year low of $50.23 and a 1 year high of $106.10.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06). The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The company’s revenue for the quarter was up 46.2% on a year-over-year basis. During the same quarter last year, the business posted $2.54 earnings per share. As a group, research analysts anticipate that Concentrix Co. will post 10.18 EPS for the current year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Investors of record on Friday, October 25th will be paid a $0.333 dividend. This represents a $1.33 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, October 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s dividend payout ratio is 30.79%.

Hedge Funds Weigh In On Concentrix

Several institutional investors and hedge funds have recently modified their holdings of CNXC. SG Americas Securities LLC bought a new stake in shares of Concentrix during the 2nd quarter worth about $1,445,000. Vanguard Group Inc. grew its position in shares of Concentrix by 23.9% in the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after purchasing an additional 1,034,546 shares during the last quarter. Natixis bought a new position in shares of Concentrix during the first quarter worth approximately $542,000. Tweedy Browne Co LLC lifted its holdings in Concentrix by 21.6% during the 1st quarter. Tweedy Browne Co LLC now owns 173,338 shares of the company’s stock worth $11,478,000 after purchasing an additional 30,798 shares during the last quarter. Finally, Groupe Bruxelles Lambert bought a new stake in Concentrix in the 4th quarter valued at $861,662,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CNXC shares. Robert W. Baird assumed coverage on Concentrix in a report on Thursday. They set an “outperform” rating and a $70.00 price objective for the company. Canaccord Genuity Group lowered their price objective on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a report on Thursday, September 26th. Barrington Research reduced their target price on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th. Bank of America lowered their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Finally, Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $79.00.

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.