Concentrix Corporation (NASDAQ:CNXC) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Concentrix Corporation (NASDAQ:CNXC) have earned an average rating of “Hold” from the five brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $48.50.

A number of equities research analysts have commented on CNXC shares. Barrington Research reduced their target price on Concentrix from $62.00 to $38.00 and set an “outperform” rating for the company in a report on Wednesday, March 25th. Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Canaccord Genuity Group reduced their target price on Concentrix from $80.00 to $55.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Wall Street Zen cut Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Finally, Robert W. Baird dropped their price target on Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th.

Concentrix Price Performance

Concentrix stock opened at $27.82 on Friday. Concentrix has a one year low of $22.05 and a one year high of $62.14. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.18 and a current ratio of 1.18. The business has a fifty day moving average of $26.54 and a two-hundred day moving average of $33.25. The company has a market cap of $1.70 billion, a P/E ratio of -1.29, a price-to-earnings-growth ratio of 0.36 and a beta of 0.43.

Concentrix (NASDAQ:CNXC) last released its earnings results on Tuesday, March 24th. The company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.49 billion. During the same period last year, the business posted $2.79 EPS. Concentrix’s revenue was up 5.4% compared to the same quarter last year. As a group, analysts predict that Concentrix will post 10.42 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were given a $0.36 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.2%. Concentrix’s dividend payout ratio (DPR) is currently -6.68%.

Insiders Place Their Bets

In other news, CFO Andre S. Valentine purchased 2,500 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was acquired at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the transaction, 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 this link. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the transaction, the insider owned 2,773,667 shares of the company’s stock, valued at approximately $61,714,090.75. This represents a 68.39% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Osaic Holdings Inc. increased its position in shares of Concentrix by 13.4% in the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock valued at $118,000 after buying an additional 263 shares in the last quarter. State of Wyoming increased its position in shares of Concentrix by 6.2% in the fourth quarter. State of Wyoming now owns 5,029 shares of the company’s stock valued at $209,000 after buying an additional 293 shares in the last quarter. Deutsche Bank AG increased its position in shares of Concentrix by 4.7% in the fourth quarter. Deutsche Bank AG now owns 6,767 shares of the company’s stock valued at $281,000 after buying an additional 303 shares in the last quarter. Clearstead Advisors LLC increased its position in shares of Concentrix by 26.4% in the third quarter. Clearstead Advisors LLC now owns 1,650 shares of the company’s stock valued at $76,000 after buying an additional 345 shares in the last quarter. Finally, Brevan Howard Capital Management LP increased its position in Concentrix by 4.5% during the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company’s stock worth $473,000 after purchasing an additional 384 shares in the last quarter. Hedge funds and other institutional investors 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.