Concentrix Co. (NASDAQ:CNXC) Receives $79.00 Consensus Price Target from Analysts

Concentrix Co. (NASDAQ:CNXC) has been assigned a consensus recommendation of “Buy” from the six analysts that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $79.00.

CNXC has been the topic of a number of recent analyst reports. Baird R W raised shares of Concentrix to a “strong-buy” rating in a research report on Thursday. Bank of America decreased their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Robert W. Baird began coverage on shares of Concentrix in a report on Thursday. They issued an “outperform” rating and a $70.00 target price for the company. Canaccord Genuity Group decreased their price target on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Finally, Barrington Research lowered their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th.

Concentrix Stock Down 0.1 %

CNXC stock opened at $52.58 on Thursday. The firm has a market cap of $3.42 billion, a PE ratio of 12.17, a PEG ratio of 0.71 and a beta of 0.58. Concentrix has a one year low of $50.23 and a one year high of $106.10. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.56 and a current ratio of 1.57. The firm’s 50 day moving average price is $65.82 and its 200-day moving average price is $63.22.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). The business had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. Concentrix’s revenue for the quarter was up 46.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 EPS. On average, equities research analysts anticipate that Concentrix will post 10.18 EPS for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be issued a dividend of $0.333 per share. The ex-dividend date is Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.33 dividend on an annualized basis and a yield of 2.53%. Concentrix’s dividend payout ratio is 28.01%.

Insiders Place Their Bets

In other news, CEO Christopher A. Caldwell sold 9,823 shares of the stock in a transaction on Friday, October 4th. The stock was sold at an average price of $52.70, for a total value of $517,672.10. Following the sale, the chief executive officer now directly owns 241,841 shares in the company, valued at approximately $12,745,020.70. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Cormac J. Twomey sold 400 shares of Concentrix stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $67.23, for a total value of $26,892.00. Following the completion of the transaction, the executive vice president now owns 29,727 shares in the company, valued at $1,998,546.21. The trade was a 0.00 % 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. Also, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $52.70, for a total transaction of $517,672.10. Following the transaction, the chief executive officer now owns 241,841 shares of the company’s stock, valued at $12,745,020.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,167 shares of company stock worth $653,747 over the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Concentrix

Several institutional investors have recently modified their holdings of the company. Groupe Bruxelles Lambert purchased a new position in Concentrix in the fourth quarter valued at $861,662,000. Vanguard Group Inc. boosted its position in shares of Concentrix by 23.9% during the 4th quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock worth $526,788,000 after acquiring an additional 1,034,546 shares in the last quarter. 1832 Asset Management L.P. purchased a new position in shares of Concentrix in the 2nd quarter valued at about $62,738,000. Pzena Investment Management LLC raised its position in shares of Concentrix by 246.3% during the 1st quarter. Pzena Investment Management LLC now owns 1,013,208 shares of the company’s stock worth $67,095,000 after acquiring an additional 720,616 shares in the last quarter. Finally, Impactive Capital LP lifted its stake in Concentrix by 13.0% during the first quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after purchasing an additional 443,045 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.