Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey Sells 400 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 400 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $63.21, for a total value of $25,284.00. Following the completion of the sale, the executive vice president now directly owns 30,127 shares of the company’s stock, valued at approximately $1,904,327.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Concentrix Trading Up 3.4 %

CNXC opened at $65.95 on Wednesday. Concentrix Co. has a 52 week low of $53.89 and a 52 week high of $106.10. The business has a fifty day simple moving average of $60.75 and a 200-day simple moving average of $72.60. The firm has a market cap of $4.35 billion, a P/E ratio of 15.27, a P/E/G ratio of 0.68 and a beta of 0.60. The company has a quick ratio of 1.56, a current ratio of 1.54 and a debt-to-equity ratio of 1.21.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.63 by $0.06. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The business had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the business posted $2.50 earnings per share. The company’s quarterly revenue was up 47.4% on a year-over-year basis. On average, equities analysts expect that Concentrix Co. will post 10.8 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 6th. Stockholders of record on Friday, July 26th will be given a dividend of $0.303 per share. The ex-dividend date is Friday, July 26th. This represents a $1.21 annualized dividend and a dividend yield of 1.84%. Concentrix’s dividend payout ratio is currently 28.01%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CNXC shares. Canaccord Genuity Group reissued a “buy” rating and set a $125.00 target price on shares of Concentrix in a research note on Thursday, June 27th. Scotiabank cut their target price on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research note on Monday, April 29th. Bank of America reissued an “underperform” rating and set a $60.00 target price (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Finally, Barrington Research reissued an “outperform” rating and set a $84.00 target price on shares of Concentrix in a research note on Friday, June 21st. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Concentrix by 1,005.0% in the second quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock valued at $28,000 after purchasing an additional 402 shares during the period. First Horizon Advisors Inc. boosted its holdings in Concentrix by 381.7% in the fourth quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the period. Pineridge Advisors LLC purchased a new position in Concentrix in the fourth quarter valued at $35,000. Parkside Financial Bank & Trust boosted its holdings in Concentrix by 146.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after purchasing an additional 374 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Concentrix by 29.8% in the fourth quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after purchasing an additional 264 shares during the period. 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.