Insider Buying: Concentrix Co. (NASDAQ:CNXC) CEO Buys 900 Shares of Stock

Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell acquired 900 shares of the firm’s stock in a transaction that occurred on Friday, April 19th. The shares were purchased at an average price of $54.59 per share, with a total value of $49,131.00. Following the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at approximately $13,053,997.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Concentrix Stock Performance

Shares of CNXC stock opened at $56.64 on Wednesday. The company’s fifty day simple moving average is $66.48 and its 200-day simple moving average is $81.49. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.74 billion, a PE ratio of 11.68, a P/E/G ratio of 0.63 and a beta of 0.48. Concentrix Co. has a 12 month low of $54.16 and a 12 month high of $106.44.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. Equities research analysts expect that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be given a $0.303 dividend. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date is Thursday, April 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. Concentrix’s payout ratio is currently 24.95%.

Institutional Trading of Concentrix

A number of institutional investors have recently made changes to their positions in CNXC. National Bank of Canada FI lifted its position in shares of Concentrix by 221.9% in the third quarter. National Bank of Canada FI now owns 18,868 shares of the company’s stock worth $1,515,000 after purchasing an additional 13,006 shares in the last quarter. CWM LLC raised its position in Concentrix by 205.2% during the third quarter. CWM LLC now owns 2,011 shares of the company’s stock worth $161,000 after acquiring an additional 1,352 shares in the last quarter. Ronald Blue Trust Inc. raised its position in Concentrix by 382.1% during the third quarter. Ronald Blue Trust Inc. now owns 887 shares of the company’s stock worth $72,000 after acquiring an additional 703 shares in the last quarter. SG Americas Securities LLC raised its position in Concentrix by 55.4% during the third quarter. SG Americas Securities LLC now owns 2,472 shares of the company’s stock worth $198,000 after acquiring an additional 881 shares in the last quarter. Finally, MBM Wealth Consultants LLC raised its position in Concentrix by 61.7% during the third quarter. MBM Wealth Consultants LLC now owns 4,674 shares of the company’s stock worth $370,000 after acquiring an additional 1,784 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on CNXC shares. Bank of America reaffirmed an “underperform” rating and issued a $60.00 price target (down previously from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Barrington Research cut their price target on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $82.25.

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.