Investment Analysts’ Weekly Ratings Updates for Concentrix (CNXC)

A number of research firms have changed their ratings and price targets for Concentrix (NASDAQ: CNXC):

• 10/3/2024 – Concentrix was upgraded by analysts at Baird R W to a “strong-buy” rating.
• 10/3/2024 – Concentrix is now covered by analysts at Robert W. Baird. They set an “outperform” rating and a $70.00 price target on the stock.
• 9/26/2024 – Concentrix had its price target lowered by analysts at Barrington Research from $84.00 to $70.00. They now have an “outperform” rating on the stock.
• 9/26/2024 – Concentrix had its price target lowered by analysts at Bank of America Co. from $85.00 to $70.00. They now have a “neutral” rating on the stock.
• 9/26/2024 – Concentrix had its price target lowered by analysts at Canaccord Genuity Group Inc. from $125.00 to $100.00. They now have a “buy” rating on the stock.
• 9/20/2024 – Concentrix had its “outperform” rating reaffirmed by analysts at Barrington Research. They now have a $84.00 price target on the stock.
• 8/28/2024 – Concentrix was upgraded by analysts at Bank of America Co. from an “underperform” rating to a “neutral” rating. They now have a $85.00 price target on the stock, up previously from $65.00.

Concentrix Stock Up 1.8 %

CNXC opened at $52.64 on Friday. The stock has a fifty day moving average of $66.12 and a 200-day moving average of $63.28. The company has a market capitalization of $3.44 billion, a P/E ratio of 12.19, a P/E/G ratio of 0.55 and a beta of 0.58. Concentrix Co. has a fifty-two week low of $50.23 and a fifty-two week 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.

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

Concentrix Increases Dividend

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

Insider Activity

In other news, EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 27,783 shares in the company, valued at approximately $1,427,490.54. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, EVP Cormac J. Twomey sold 1,544 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $51.38, for a total transaction 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 approximately $1,427,490.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $74.63, for a total value of $29,852.00. Following the transaction, the executive vice president now directly owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. The disclosure for this sale can be found here. In the last three months, insiders sold 2,344 shares of company stock worth $136,075. 3.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Orion Portfolio Solutions LLC grew its holdings in Concentrix by 143.3% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,720 shares of the company’s stock worth $652,000 after acquiring an additional 3,958 shares during the last quarter. Treasurer of the State of North Carolina increased its position in Concentrix by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company’s stock valued at $1,912,000 after purchasing an additional 190 shares during the period. Capital International Investors lifted its position in shares of Concentrix by 2.6% in the 4th quarter. Capital International Investors now owns 2,518,429 shares of the company’s stock worth $247,335,000 after purchasing an additional 64,001 shares during the period. Capital International Sarl boosted its stake in shares of Concentrix by 14.5% in the 4th quarter. Capital International Sarl now owns 16,056 shares of the company’s stock valued at $1,577,000 after purchasing an additional 2,032 shares during the last quarter. Finally, American International Group Inc. raised its stake in Concentrix by 4.9% during the fourth quarter. American International Group Inc. now owns 63,846 shares of the company’s stock worth $6,270,000 after buying an additional 2,969 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.