Canaccord Genuity Group reissued their buy rating on shares of Concentrix (NASDAQ:CNXC – Free Report) 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.
Check Out Our Latest Analysis on CNXC
Concentrix Price Performance
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.
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