Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells $27,655.00 in Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of the sale, the executive vice president now directly owns 39,130 shares in the company, valued at $2,164,280.30. This represents a 1.26 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Concentrix Price Performance

NASDAQ:CNXC opened at $48.27 on Friday. Concentrix Co. has a 52-week low of $36.28 and a 52-week high of $77.00. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.17. The business’s 50-day moving average price is $48.22 and its 200 day moving average price is $47.23. The firm has a market cap of $3.11 billion, a P/E ratio of 13.01, 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 business had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. Concentrix’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the company posted $2.57 EPS. As a group, sell-side analysts predict that Concentrix Co. will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 6th. Shareholders of record on Friday, April 25th will be paid a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date of this dividend is Friday, April 25th. Concentrix’s dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Barrington Research reduced their target price on Concentrix from $70.00 to $54.00 and set an “outperform” rating on the stock in a report on Monday, March 24th. Canaccord Genuity Group decreased their target price on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Finally, Bank of America increased their price target on Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Thursday, March 27th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $69.60.

Institutional Investors Weigh In On Concentrix

Institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its holdings in Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock worth $28,000 after purchasing an additional 286 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock worth $5,565,000 after acquiring an additional 324 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after purchasing an additional 444 shares in the last quarter. Xponance Inc. boosted its stake in Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock valued at $240,000 after buying an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock worth $34,000 after purchasing an additional 490 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.