Concentrix Corporation (NASDAQ:CNXC) EVP Cormac J. Twomey Sells 500 Shares

Concentrix Corporation (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the transaction, the executive vice president owned 37,130 shares in the company, valued at $2,150,198.30. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Concentrix Stock Down 6.0%

Shares of NASDAQ CNXC opened at $51.97 on Friday. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $77.00. The company has a market capitalization of $3.28 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.74 and a beta of 0.53. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61. The firm’s 50-day moving average is $56.42 and its two-hundred day moving average is $51.79.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.06). The business had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company earned $2.69 EPS. Equities analysts anticipate that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Friday, July 25th will be paid a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, July 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.6%. Concentrix’s dividend payout ratio is presently 36.54%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Barrington Research restated an “outperform” rating and set a $54.00 target price on shares of Concentrix in a research report on Tuesday, June 24th. Canaccord Genuity Group restated a “buy” rating and set a $80.00 target price on shares of Concentrix in a research report on Monday, June 30th. Bank of America reduced their price target on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, June 27th. Robert W. Baird upped their price target on shares of Concentrix from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, June 26th. Finally, Wall Street Zen downgraded shares of Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.75.

Hedge Funds Weigh In On Concentrix

Several institutional investors and hedge funds have recently modified their holdings of CNXC. Geneos Wealth Management Inc. lifted its stake in shares of Concentrix by 532.7% during 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 during the period. IFP Advisors Inc lifted its stake in shares of Concentrix by 473.8% during the second quarter. IFP Advisors Inc now owns 700 shares of the company’s stock valued at $37,000 after buying an additional 578 shares during the period. UMB Bank n.a. lifted its stake in shares of Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company’s stock valued at $38,000 after buying an additional 217 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of Concentrix by 111.8% during the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock valued at $47,000 after buying an additional 444 shares during the period. Finally, PNC Financial Services Group Inc. lifted its stake in shares of Concentrix by 47.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company’s stock valued at $84,000 after buying an additional 483 shares during the period. Hedge funds and other 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.