Christopher Caldwell Acquires 2,000 Shares of Concentrix (NASDAQ:CNXC) Stock

Concentrix Corporation (NASDAQ:CNXC) CEO Christopher Caldwell bought 2,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The stock was acquired at an average price of $42.03 per share, for a total transaction of $84,060.00. Following the acquisition, the chief executive officer directly owned 286,661 shares in the company, valued at $12,048,361.83. This trade represents a 0.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Concentrix Stock Performance

CNXC stock opened at $40.31 on Friday. The stock has a market cap of $2.51 billion, a P/E ratio of 8.52, a P/E/G ratio of 0.58 and a beta of 0.50. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50 day simple moving average of $49.56 and a 200 day simple moving average of $52.20. Concentrix Corporation has a 52 week low of $36.28 and a 52 week high of $66.00.

Concentrix Increases Dividend

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

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Quent Capital LLC acquired a new position in shares of Concentrix during the 3rd quarter valued at about $29,000. Geneos Wealth Management Inc. increased its holdings in shares of Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after acquiring an additional 522 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Concentrix by 473.8% during the 2nd quarter. IFP Advisors Inc now owns 700 shares of the company’s stock valued at $37,000 after acquiring an additional 578 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock valued at $47,000 after acquiring an additional 444 shares during the last quarter. Finally, True Wealth Design LLC increased its holdings in shares of Concentrix by 39.3% during the 2nd quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock valued at $61,000 after acquiring an additional 328 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Concentrix

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.