Concentrix (NASDAQ:CNXC) Price Target Lowered to $84.00 at Barrington Research

Concentrix (NASDAQ:CNXC) had its target price reduced by Barrington Research from $121.00 to $84.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

Concentrix Trading Up 4.8 %

NASDAQ:CNXC opened at $65.20 on Wednesday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.19. Concentrix has a twelve month low of $59.23 and a twelve month high of $125.80. The company has a market cap of $4.32 billion, a P/E ratio of 11.30, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50. The business has a 50 day moving average price of $78.34 and a two-hundred day moving average price of $83.61.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 24th. The company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.15. The business had revenue of $2.23 billion during the quarter, compared to the consensus estimate of $2.20 billion. Concentrix had a net margin of 4.41% and a return on equity of 18.31%. As a group, analysts expect that Concentrix will post 11.26 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a dividend of $0.3025 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.21 annualized dividend and a dividend yield of 1.86%. Concentrix’s dividend payout ratio is currently 20.97%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. boosted its stake in Concentrix by 7.7% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company’s stock valued at $310,000 after buying an additional 133 shares in the last quarter. BlackRock Inc. boosted its holdings in Concentrix by 1.0% in the first quarter. BlackRock Inc. now owns 3,668,975 shares of the company’s stock valued at $611,103,000 after acquiring an additional 35,619 shares during the last quarter. Great West Life Assurance Co. Can raised its stake in Concentrix by 8.0% during the first quarter. Great West Life Assurance Co. Can now owns 23,644 shares of the company’s stock worth $4,049,000 after buying an additional 1,761 shares during the last quarter. Sei Investments Co. raised its position in shares of Concentrix by 168.7% in the 1st quarter. Sei Investments Co. now owns 22,904 shares of the company’s stock worth $3,823,000 after acquiring an additional 14,380 shares in the last quarter. Finally, Aviva PLC acquired a new position in Concentrix in the first quarter valued at approximately $593,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

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.