Concentrix (NASDAQ:CNXC) CEO Acquires $40,000.00 in Stock

Concentrix Corporation (NASDAQ:CNXC) CEO Christopher Caldwell acquired 1,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was purchased at an average cost of $40.00 per share, with a total value of $40,000.00. Following the acquisition, the chief executive officer directly owned 287,661 shares of the company’s stock, valued at $11,506,440. This represents a 0.35% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink.

Concentrix Stock Down 2.1%

CNXC opened at $38.20 on Thursday. Concentrix Corporation has a fifty-two week low of $36.28 and a fifty-two week high of $66.00. 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 company has a fifty day moving average of $48.85 and a two-hundred day moving average of $52.02. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 8.08, a PEG ratio of 0.56 and a beta of 0.49.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, October 24th. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 3.8%. Concentrix’s dividend payout ratio is presently 30.44%.

Institutional Trading of Concentrix

A number of institutional investors and hedge funds have recently modified their holdings of CNXC. Envestnet Asset Management Inc. grew its stake in Concentrix by 7.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company’s stock valued at $9,213,000 after acquiring an additional 12,162 shares in the last quarter. GAMMA Investing LLC grew its stake in Concentrix by 761.3% during the 1st quarter. GAMMA Investing LLC now owns 2,446 shares of the company’s stock valued at $136,000 after acquiring an additional 2,162 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Concentrix by 19.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 77,478 shares of the company’s stock valued at $4,094,000 after acquiring an additional 12,745 shares in the last quarter. Focus Partners Advisor Solutions LLC grew its stake in Concentrix by 50.1% during the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 17,981 shares of the company’s stock valued at $950,000 after acquiring an additional 5,998 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Concentrix during the 2nd quarter valued at about $1,689,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Concentrix Company Profile

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.