Concentrix (NASDAQ:CNXC – Get Rating) had its target price reduced by Barrington Research from $202.00 to $183.00 in a research report released on Tuesday, The Fly reports. They currently have an outperform rating on the stock.
Shares of Concentrix stock opened at $134.99 on Tuesday. The company has a market capitalization of $7.08 billion, a PE ratio of 15.59, a P/E/G ratio of 0.82 and a beta of 0.63. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.57 and a current ratio of 1.59. The company has a 50-day simple moving average of $147.50 and a two-hundred day simple moving average of $169.98. Concentrix has a one year low of $131.01 and a one year high of $208.48.
Get Concentrix alerts:Concentrix (NASDAQ:CNXC – Get Rating) last announced its earnings results on Monday, June 27th. The company reported $2.93 EPS for the quarter, topping analysts' consensus estimates of $2.82 by $0.11. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.57 billion. Concentrix had a net margin of 7.66% and a return on equity of 20.87%. The firm's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.37 earnings per share. On average, equities analysts predict that Concentrix will post 11.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th will be issued a $0.25 dividend. The ex-dividend date is Thursday, July 28th. This represents a $1.00 dividend on an annualized basis and a yield of 0.74%. Concentrix's dividend payout ratio is presently 11.55%.In other news, Director Dennis Polk sold 10,000 shares of the business's stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $153.19, for a total transaction of $1,531,900.00. Following the sale, the director now owns 18,282 shares in the company, valued at $2,800,619.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn Hayley purchased 640 shares of the company's stock in a transaction dated Monday, April 25th. The shares were acquired at an average price of $156.33 per share, for a total transaction of $100,051.20. Following the purchase, the director now directly owns 1,240 shares of the company's stock, valued at approximately $193,849.20. The disclosure for this purchase can be found here. Insiders have bought 1,514 shares of company stock worth $240,032 in the last 90 days. Insiders own 0.98% of the company's stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. boosted its position in Concentrix by 168.9% in the fourth quarter. Citigroup Inc. now owns 19,906 shares of the company's stock valued at $3,555,000 after buying an additional 12,504 shares during the last quarter. Virginia Retirement Systems ET AL raised its stake in shares of Concentrix by 35.7% during the 1st quarter. Virginia Retirement Systems ET AL now owns 15,200 shares of the company's stock worth $2,532,000 after buying an additional 4,000 shares during the period. Alliancebernstein L.P. raised its stake in Concentrix by 0.3% in the 4th quarter. Alliancebernstein L.P. now owns 83,478 shares of the company's stock valued at $14,911,000 after purchasing an additional 248 shares during the last quarter. Symmetry Partners LLC acquired a new stake in shares of Concentrix in the 1st quarter worth $501,000. Finally, Quent Capital LLC purchased a new position in shares of Concentrix during the 4th quarter worth $114,000. Hedge funds and other institutional investors own 75.73% of the company's stock.
About Concentrix (Get Rating)
Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.
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