Kathryn Hayley Purchases 500 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) Director Kathryn Hayley bought 500 shares of the stock in a transaction on Wednesday, January 22nd. The shares were bought at an average cost of $50.22 per share, with a total value of $25,110.00. Following the purchase, the director now owns 3,034 shares of the company’s stock, valued at $152,367.48. This trade represents a 19.73 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $52.44 on Friday. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.57. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 0.70 and a beta of 0.63. The stock’s 50-day moving average is $44.37 and its two-hundred day moving average is $54.43. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $106.10.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, topping analysts’ consensus estimates of $3.01 by $0.25. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.45 billion for the quarter, compared to analyst estimates of $2.44 billion. During the same period in the prior year, the firm earned $3.36 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Analysts forecast that Concentrix Co. will post 10.11 EPS for the current fiscal year.

Concentrix Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st will be given a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.33 annualized dividend and a dividend yield of 2.54%. Concentrix’s dividend payout ratio (DPR) is currently 35.85%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CNXC. Bank of America lowered their price objective on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, September 26th. Barrington Research dropped their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th. Canaccord Genuity Group decreased their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. Baird R W raised Concentrix to a “strong-buy” rating in a research report on Thursday, October 3rd. Finally, Robert W. Baird began coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target on the stock. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $75.00.

Hedge Funds Weigh In On Concentrix

Several large investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Concentrix by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after acquiring an additional 287 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new position in Concentrix in the second quarter valued at approximately $68,000. Quarry LP raised its holdings in Concentrix by 769.9% during the second quarter. Quarry LP now owns 1,244 shares of the company’s stock worth $79,000 after purchasing an additional 1,101 shares in the last quarter. KBC Group NV lifted its position in shares of Concentrix by 68.3% during the 4th quarter. KBC Group NV now owns 2,008 shares of the company’s stock worth $87,000 after buying an additional 815 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Concentrix in the 3rd quarter valued at $146,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.