Concentrix Co. (NASDAQ:CNXC) Director Kathryn Hayley Purchases 500 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) Director Kathryn Hayley acquired 500 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was purchased at an average cost of $50.22 per share, with a total value of $25,110.00. Following the acquisition, the director now directly owns 3,034 shares of the company’s stock, valued at $152,367.48. This represents a 19.73 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Concentrix Trading Up 4.2 %

Shares of CNXC opened at $52.44 on Friday. The firm’s fifty day moving average is $44.37 and its two-hundred day moving average is $54.43. The stock has a market cap of $3.40 billion, a PE ratio of 14.13, a price-to-earnings-growth ratio of 0.70 and a beta of 0.63. The company has a quick ratio of 1.57, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The company had revenue of $2.45 billion during the quarter, compared to analysts’ expectations of $2.44 billion. During the same quarter in the prior year, the company earned $3.36 EPS. Concentrix’s revenue was up 9.7% compared to the same quarter last year. Research analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Shareholders of record on Friday, January 31st will be paid a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Friday, January 31st. Concentrix’s dividend payout ratio (DPR) is currently 35.85%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CNXC shares. Canaccord Genuity Group dropped their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, January 16th. Bank of America cut their price objective on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Baird R W upgraded Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Barrington Research cut their price target 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. Finally, Robert W. Baird began coverage on shares of Concentrix in a report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective on the stock. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $75.00.

Institutional Trading of Concentrix

Large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. grew its holdings in shares of Concentrix by 35.0% in the second quarter. Envestnet Asset Management Inc. now owns 110,282 shares of the company’s stock valued at $6,979,000 after purchasing an additional 28,615 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in shares of Concentrix by 38.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,097 shares of the company’s stock valued at $700,000 after buying an additional 3,104 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Concentrix by 120.6% during the 2nd quarter. Hsbc Holdings PLC now owns 34,586 shares of the company’s stock worth $2,186,000 after buying an additional 18,906 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Concentrix during the 2nd quarter valued at approximately $68,000. Finally, Pacer Advisors Inc. lifted its holdings in Concentrix by 7.3% in the second quarter. Pacer Advisors Inc. now owns 17,838 shares of the company’s stock valued at $1,129,000 after acquiring an additional 1,217 shares during the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

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.