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

Shares of Concentrix Corporation (NASDAQ:CNXC) have been given a consensus recommendation of “Hold” by the five analysts that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $48.50.

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

Concentrix Stock Performance

CNXC stock opened at $26.77 on Friday. The business has a 50-day moving average price of $30.14 and a 200 day moving average price of $36.72. Concentrix has a 1-year low of $24.27 and a 1-year high of $62.14. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $1.63 billion, a P/E ratio of -1.24, a PEG ratio of 0.36 and a beta of 0.50.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the firm earned $2.79 EPS. Concentrix’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities research analysts forecast that Concentrix will post 10.42 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.44 dividend on an annualized basis and a yield of 5.4%. Concentrix’s payout ratio is presently -6.68%.

Insider Buying and Selling

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

Institutional Investors Weigh In On Concentrix

A number of hedge funds have recently bought and sold shares of CNXC. AQR Capital Management LLC raised its position in Concentrix by 25.5% in the 2nd quarter. AQR Capital Management LLC now owns 4,305,469 shares of the company’s stock valued at $226,252,000 after purchasing an additional 875,556 shares in the last quarter. Pzena Investment Management LLC raised its position in Concentrix by 32.3% in the 4th quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company’s stock valued at $121,713,000 after purchasing an additional 714,604 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new stake in Concentrix in the 3rd quarter valued at about $31,768,000. Dimensional Fund Advisors LP raised its position in Concentrix by 28.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,491,270 shares of the company’s stock valued at $103,588,000 after purchasing an additional 551,778 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Concentrix in the 4th quarter valued at about $22,913,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Company Profile

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.