Concentrix’s (CNXC) “Underperform” Rating Reaffirmed at Bank of America

Bank of America restated their underperform rating on shares of Concentrix (NASDAQ:CNXC) in a research report report published on Wednesday, MarketBeat Ratings reports. The brokerage currently has a $60.00 price target on the stock, down from their prior price target of $85.00.

Separately, Barrington Research dropped their target price on shares of Concentrix from $121.00 to $84.00 and set an outperform rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, Concentrix presently has a consensus rating of Hold and an average price target of $95.80.

Concentrix Stock Up 4.8 %

Shares of NASDAQ:CNXC opened at $65.20 on Wednesday. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 0.66 and a beta of 0.50. Concentrix has a 1-year low of $59.23 and a 1-year high of $125.80. The company’s fifty day moving average is $78.34 and its two-hundred day moving average is $83.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.38 and a current ratio of 1.38.

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

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were issued a $0.3025 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.86%. Concentrix’s dividend payout ratio (DPR) is presently 20.97%.

Institutional Trading of Concentrix

A number of large investors have recently modified their holdings of CNXC. Cambridge Investment Research Advisors Inc. grew its position in Concentrix by 7.7% in the 1st 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. grew its position in Concentrix by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,668,975 shares of the company’s stock valued at $611,103,000 after buying an additional 35,619 shares in the last quarter. Great West Life Assurance Co. Can grew its position in Concentrix by 8.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,644 shares of the company’s stock valued at $4,049,000 after buying an additional 1,761 shares in the last quarter. Sei Investments Co. grew its position in Concentrix by 168.7% in the 1st quarter. Sei Investments Co. now owns 22,904 shares of the company’s stock valued at $3,823,000 after buying an additional 14,380 shares in the last quarter. Finally, Aviva PLC bought a new position in Concentrix in the 1st quarter valued at about $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.