Concentrix (NASDAQ:CNXC) CEO Acquires $84,060.00 in Stock

Concentrix Corporation (NASDAQ:CNXC) CEO Christopher Caldwell purchased 2,000 shares of the business’s stock in a transaction on Thursday, October 30th. The stock was purchased at an average cost of $42.03 per share, for a total transaction of $84,060.00. Following the acquisition, the chief executive officer owned 286,661 shares in the company, valued at approximately $12,048,361.83. The trade was a 0.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Concentrix Price Performance

Shares of Concentrix stock opened at $40.31 on Monday. The company’s fifty day simple moving average is $49.56 and its two-hundred day simple moving average is $52.23. The firm has a market cap of $2.51 billion, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.58 and a beta of 0.49. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $66.00.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, October 24th. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s payout ratio is presently 30.44%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $80.00 target price on shares of Concentrix in a research note on Tuesday, September 23rd. Robert W. Baird cut their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, September 29th. Barrington Research reaffirmed an “outperform” rating and set a $62.00 target price on shares of Concentrix in a research note on Wednesday, September 24th. Finally, Weiss Ratings raised shares of Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.25.

Institutional Investors Weigh In On Concentrix

Several hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. boosted its stake in Concentrix by 13.4% during the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock worth $118,000 after acquiring an additional 263 shares in the last quarter. Earned Wealth Advisors LLC raised its holdings in Concentrix by 6.4% in the second quarter. Earned Wealth Advisors LLC now owns 4,488 shares of the company’s stock worth $237,000 after buying an additional 269 shares during the last quarter. True Wealth Design LLC raised its holdings in Concentrix by 39.3% in the second quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock worth $61,000 after buying an additional 328 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Concentrix by 23.9% in the second quarter. Parkside Financial Bank & Trust now owns 1,818 shares of the company’s stock worth $96,000 after buying an additional 351 shares during the last quarter. Finally, Brevan Howard Capital Management LP raised its holdings in Concentrix by 4.5% in the second quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company’s stock worth $473,000 after buying an additional 384 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.