Concentrix (NASDAQ:CNXC) Given Buy Rating at Canaccord Genuity Group

Canaccord Genuity Group reissued their buy rating on shares of Concentrix (NASDAQ:CNXC) in a research note published on Thursday, Benzinga reports. Canaccord Genuity Group currently has a $125.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. Scotiabank decreased their price objective on shares of Concentrix from $120.00 to $85.00 and set a sector outperform rating for the company in a research report on Monday, April 29th. Barrington Research reissued an outperform rating and issued a $84.00 price target on shares of Concentrix in a report on Friday, June 21st. Finally, Bank of America restated an underperform rating and set a $60.00 price objective (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Concentrix currently has a consensus rating of Hold and an average target price of $84.80.

Concentrix Price Performance

Shares of CNXC stock opened at $63.28 on Thursday. The firm has a fifty day simple moving average of $60.39 and a 200-day simple moving average of $73.19. The company has a market capitalization of $4.18 billion, a PE ratio of 14.65, a price-to-earnings-growth ratio of 0.73 and a beta of 0.60. Concentrix has a twelve month low of $53.89 and a twelve month high of $106.10. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 1.21.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 6th. Investors of record on Friday, July 26th will be issued a $0.303 dividend. This represents a $1.21 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, July 26th. Concentrix’s dividend payout ratio is currently 28.01%.

Insider Buying and Selling at Concentrix

In other news, CEO Christopher A. Caldwell purchased 900 shares of the stock in a transaction dated Friday, April 19th. The stock was acquired at an average cost of $54.59 per share, for a total transaction of $49,131.00. Following the acquisition, the chief executive officer now owns 239,128 shares of the company’s stock, valued at $13,053,997.52. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders have bought 1,679 shares of company stock worth $98,546 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Concentrix

A number of institutional investors have recently modified their holdings of the business. First Horizon Advisors Inc. lifted its holdings in Concentrix by 381.7% in the fourth quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock worth $34,000 after acquiring an additional 271 shares during the last quarter. Pineridge Advisors LLC acquired a new stake in shares of Concentrix during the 4th quarter worth approximately $35,000. Parkside Financial Bank & Trust lifted its holdings in shares of Concentrix by 146.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after purchasing an additional 374 shares during the last quarter. Blue Trust Inc. boosted its position in Concentrix by 29.8% during the 4th 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. Finally, Fifth Third Bancorp grew its stake in Concentrix by 9.1% during the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock worth $145,000 after buying an additional 123 shares during the last quarter. Institutional investors 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.