Concentrix Co. (CNXC) To Go Ex-Dividend on April 25th

Concentrix Co. (NASDAQ:CNXC) announced a quarterly dividend on Tuesday, March 26th, Zacks reports. Investors of record on Friday, April 26th will be given a dividend of 0.303 per share on Tuesday, May 7th. This represents a $1.21 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Thursday, April 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30.

Concentrix has a payout ratio of 9.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Concentrix to earn $12.56 per share next year, which means the company should continue to be able to cover its $1.21 annual dividend with an expected future payout ratio of 9.6%.

Concentrix Price Performance

Shares of Concentrix stock opened at $65.20 on Thursday. The company has a 50-day simple moving average of $78.34 and a two-hundred day simple moving average of $83.61. Concentrix has a twelve month low of $59.23 and a twelve month high of $125.80. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.19. 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 (NASDAQ:CNXC) last issued its quarterly 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 during the quarter, compared to the consensus estimate of $2.20 billion. Concentrix had a net margin of 3.53% and a return on equity of 18.77%. Analysts forecast that Concentrix will post 11.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Bank of America restated an “underperform” rating and set a $60.00 price objective (down from $85.00) on shares of Concentrix in a research report on Wednesday. Barrington Research lowered their target price on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $95.80.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of Concentrix by 7.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company’s stock worth $310,000 after purchasing an additional 133 shares in the last quarter. BlackRock Inc. boosted its holdings in Concentrix by 1.0% in the first quarter. BlackRock Inc. now owns 3,668,975 shares of the company’s stock worth $611,103,000 after acquiring an additional 35,619 shares in the last quarter. Great West Life Assurance Co. Can grew its stake in shares of Concentrix by 8.0% in the first quarter. Great West Life Assurance Co. Can now owns 23,644 shares of the company’s stock worth $4,049,000 after acquiring an additional 1,761 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Concentrix by 168.7% during the first quarter. Sei Investments Co. now owns 22,904 shares of the company’s stock valued at $3,823,000 after acquiring an additional 14,380 shares in the last quarter. Finally, Aviva PLC purchased a new position in shares of Concentrix in the 1st quarter worth about $593,000. 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.