Christopher A. Caldwell Buys 900 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell bought 900 shares of Concentrix stock in a transaction that occurred on Friday, April 19th. The stock was purchased at an average cost of $54.59 per share, with a total value of $49,131.00. Following the completion of the acquisition, the chief executive officer now directly owns 239,128 shares in the company, valued at approximately $13,053,997.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Concentrix Stock Performance

Shares of Concentrix stock opened at $56.73 on Thursday. The stock’s fifty day moving average price is $65.96 and its 200-day moving average price is $81.32. Concentrix Co. has a 12 month low of $54.16 and a 12 month high of $106.10. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The firm has a market cap of $3.74 billion, a P/E ratio of 11.70, a P/E/G ratio of 0.63 and a beta of 0.48.

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

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be given a dividend of $0.303 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 2.14%. The ex-dividend date is Thursday, April 25th. Concentrix’s dividend payout ratio (DPR) is currently 24.95%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. increased its position in shares of Concentrix by 381.7% in the fourth quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after buying an additional 271 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in shares of Concentrix during the fourth quarter worth approximately $35,000. Parkside Financial Bank & Trust increased its position in shares of Concentrix by 146.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after purchasing an additional 374 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Concentrix during the third quarter worth approximately $65,000. Finally, Ronald Blue Trust Inc. increased its position in shares of 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 purchasing an additional 703 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barrington Research dropped their price target on Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research note on Wednesday, March 27th. Bank of America restated an “underperform” rating and issued a $60.00 price target (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $82.25.

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.