Cormac J. Twomey sells 1,544 shares of Concentrix Co. (NASDAQ:CNXC)

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Concentrix Co. (NASDAQ:CNXC – Get Your Free Report ) EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.38, for a total value of $79,330.72. Following the transaction, the executive vice president now directly owns 27,783 shares in the company, valued at approximately $1,427,490.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink.

Concentrix price performance

CNXC traded up $0.76 on Wednesday, reaching $51.70. The stock had a trading volume of 1,171,752 shares, compared to its average volume of 529,500. The firm has a 50-day moving average of $66.66 and a 200-day moving average of $63.44. Concentrix Co. it has a fifty-two week low of $50.23 and a fifty-two week high of $106.10. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 11.79, a price-to-earnings-growth ratio of 0.55 and a beta of 0.61. The company has a current ratio of 1.57, a quick ratio of 1.56, and a debt-to-equity ratio of 1.18.

Concentrix (NASDAQ:CNXC – Get Your Free Report ) last announced its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06). Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The company had revenue of $2.39 billion for the quarter, compared to the consensus estimate of $2.38 billion. In the same period last year, the company earned $2.54 per share. The company’s revenue for the quarter was up 46.2% year over year. As a group, sell-side analysts anticipate that Concentrix Co. will post 10.18 EPS for the current year.

Concentrix Increases Dividends

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be paid a dividend of $0.333 per share. This represents a dividend of $1.33 on an annualized basis and a dividend yield of 2.58%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, October 25. Concentrix’s dividend payout ratio is currently 30.79%.

The Wall Street analyst weighs in

Several research firms have recently commented on CNXC. Canaccord Genuity Group cut their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Barrington Research cut their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, September 26th. Finally, Bank of America decreased their price target on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Moderate Buy” and an average target price of $81.25, according to MarketBeat .

Check out our latest report on Concentrix

Institutional inputs and outputs

Institutional investors have recently modified their holdings of the stock. State Treasurer State of North Carolina raised its stake in Concentrix by 1.0% in the fourth quarter. State Treasurer State of North Carolina now owns 19,466 shares of the company’s stock valued at $1,912,000 after acquiring an additional 190 shares during the period. State of Michigan Retirement System boosted its stake in Concentrix by 1.8% in the first quarter. State of Michigan Retirement System now owns 11,591 shares of the company’s stock valued at $768,000 after purchasing an additional 200 shares in the last quarter. Capital International Ltd. CA grew its holdings in shares of Concentrix by 1.4% during the fourth quarter. Capital International Ltd. CA now owns 15,368 shares of the company’s stock valued at $1,509,000 after purchasing an additional 218 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in shares of Concentrix by 2.9% in the second quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company’s stock worth $548,000 after purchasing an additional 248 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in Concentrix by 54.0% in the second quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock valued at $51,000 after acquiring an additional 285 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s shares.

Concentrix Company Profile

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Concentrix Corporation is committed to providing technology-driven customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics and business transformation services through various communication channels such as voice, chat, email, social media, asynchronous messaging and custom applications .