Concentrix Corporation (NASDAQ:CNXC) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Concentrix Corporation (NASDAQ:CNXC) have received an average rating of “Moderate Buy” from the five ratings firms that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $66.25.

A number of research firms have weighed in on CNXC. Weiss Ratings upgraded Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price objective on shares of Concentrix in a report on Tuesday, September 23rd. Robert W. Baird dropped their target price on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, September 29th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $62.00 target price on shares of Concentrix in a research report on Thursday, November 20th.

Concentrix Stock Up 0.1%

Shares of NASDAQ:CNXC opened at $39.57 on Friday. The firm has a market capitalization of $2.46 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.53 and a beta of 0.50. The business has a 50 day simple moving average of $39.95 and a two-hundred day simple moving average of $48.90. Concentrix has a 1 year low of $31.63 and a 1 year high of $66.00. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.56.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Thursday, September 25th. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.10). Concentrix had a return on equity of 16.02% and a net margin of 3.25%.The business had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the company posted $2.87 earnings per share. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS and its Q4 2025 guidance at 2.850-2.960 EPS. On average, equities analysts predict that Concentrix will post 10.11 EPS for the current year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th were given a dividend of $0.36 per share. This is a boost from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.44 dividend on an annualized basis and a yield of 3.6%. Concentrix’s dividend payout ratio is presently 30.44%.

Insider Activity

In other news, CEO Christopher A. Caldwell purchased 2,000 shares of the company’s stock in a transaction dated Thursday, October 30th. The shares were acquired at an average price of $42.03 per share, with a total value of $84,060.00. Following the transaction, the chief executive officer owned 286,661 shares of the company’s stock, valued at $12,048,361.83. This represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders acquired 4,000 shares of company stock worth $169,410. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allworth Financial LP raised its holdings in shares of Concentrix by 90.6% in the 3rd quarter. Allworth Financial LP now owns 856 shares of the company’s stock valued at $40,000 after purchasing an additional 407 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in Concentrix by 7.1% during the third quarter. CANADA LIFE ASSURANCE Co now owns 36,884 shares of the company’s stock valued at $1,763,000 after buying an additional 2,437 shares during the period. XTX Topco Ltd bought a new position in Concentrix in the third quarter worth approximately $890,000. Susquehanna Fundamental Investments LLC raised its stake in Concentrix by 4.4% in the third quarter. Susquehanna Fundamental Investments LLC now owns 95,502 shares of the company’s stock worth $4,407,000 after buying an additional 3,988 shares in the last quarter. Finally, Scientech Research LLC purchased a new stake in Concentrix during the third quarter worth $522,000. 90.34% of the stock is currently owned by institutional investors.

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.