Concentrix Corporation (NASDAQ:CNXC) Receives $48.50 Average PT from Analysts

Shares of Concentrix Corporation (NASDAQ:CNXC) have earned an average recommendation of “Hold” from the five research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $48.50.

CNXC has been the topic of several analyst reports. Wall Street Zen lowered shares of Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Canaccord Genuity Group lowered their price objective on Concentrix from $80.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Robert W. Baird dropped their target price on Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings cut shares of Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a research note on Thursday, January 29th. Finally, Barrington Research dropped their target price on shares of Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell acquired 1,000 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was acquired at an average cost of $37.07 per share, for a total transaction of $37,070.00. Following the purchase, the chief executive officer owned 362,075 shares in the company, valued at approximately $13,422,120.25. The trade was a 0.28% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Andre S. Valentine bought 2,500 shares of Concentrix stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average cost of $27.95 per share, with a total value of $69,875.00. Following the acquisition, the chief financial officer owned 89,066 shares of the company’s stock, valued at $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Concentrix

Several hedge funds and other institutional investors have recently bought and sold shares of CNXC. Huntington National Bank increased its holdings in shares of Concentrix by 6,011.1% during the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock valued at $25,000 after purchasing an additional 541 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after buying an additional 522 shares in the last quarter. Quent Capital LLC purchased a new position in Concentrix in the third quarter valued at $29,000. Larson Financial Group LLC raised its position in shares of Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after acquiring an additional 479 shares during the period. Finally, Rothschild Investment LLC boosted its stake in shares of Concentrix by 14,980.0% during the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock worth $35,000 after acquiring an additional 749 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Stock Performance

NASDAQ:CNXC opened at $30.00 on Friday. Concentrix has a one year low of $24.27 and a one year high of $62.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $1.83 billion, a P/E ratio of -1.39, a P/E/G ratio of 0.38 and a beta of 0.50. The firm has a 50-day simple moving average of $30.70 and a 200-day simple moving average of $37.10.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.04). The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. Concentrix’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.79 earnings per share. Equities analysts anticipate that Concentrix will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Friday, April 24th. Concentrix’s payout ratio is presently -6.68%.

About Concentrix

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.