Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells $25,350.00 in Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction on Wednesday, April 30th. The stock was sold at an average price of $50.70, for a total value of $25,350.00. Following the completion of the transaction, the executive vice president now directly owns 38,630 shares of the company’s stock, valued at approximately $1,958,541. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Concentrix Stock Performance

NASDAQ CNXC opened at $51.10 on Friday. Concentrix Co. has a 1-year low of $36.28 and a 1-year high of $77.00. The company has a 50 day moving average of $48.09 and a 200-day moving average of $46.34. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 1.17. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 13.77, a PEG ratio of 0.63 and a beta of 0.51.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating analysts’ consensus estimates of $2.58 by $0.21. The firm had revenue of $2.37 billion during the quarter, compared to analysts’ expectations of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The business’s revenue was down 1.3% on a year-over-year basis. During the same period last year, the firm posted $2.57 EPS. On average, equities analysts forecast that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix’s dividend payout ratio is currently 33.33%.

Analyst Upgrades and Downgrades

CNXC has been the topic of a number of recent research reports. Bank of America lifted their price objective on Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. Barrington Research decreased their price target on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a research note on Monday, March 24th. Finally, Canaccord Genuity Group dropped their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $65.75.

Institutional Investors Weigh In On Concentrix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNXC. Fuller & Thaler Asset Management Inc. increased its holdings in shares of Concentrix by 38.1% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company’s stock valued at $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Pzena Investment Management LLC increased its stake in shares of Concentrix by 60.0% in the 4th quarter. Pzena Investment Management LLC now owns 2,349,599 shares of the company’s stock valued at $101,667,000 after buying an additional 880,960 shares during the period. Copeland Capital Management LLC lifted its stake in shares of Concentrix by 3.0% during the first quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company’s stock valued at $76,418,000 after acquiring an additional 40,226 shares during the period. Lyrical Asset Management LP boosted its holdings in Concentrix by 3.4% in the fourth quarter. Lyrical Asset Management LP now owns 1,258,398 shares of the company’s stock valued at $54,451,000 after acquiring an additional 41,540 shares during the last quarter. Finally, Deprince Race & Zollo Inc. increased its position in Concentrix by 55.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company’s stock worth $43,665,000 after purchasing an additional 359,476 shares during the period. Institutional investors and hedge funds 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.