Brokerages Set Concentrix Corporation (NASDAQ:CNXC) PT at $63.75

Shares of Concentrix Corporation (NASDAQ:CNXC) have earned a consensus recommendation of “Hold” from the five research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $48.50.

A number of equities research analysts have recently commented on the stock. Robert W. Baird reduced their target price on shares of Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, March 25th. Wall Street Zen lowered shares of Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday. Weiss Ratings downgraded shares of Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, January 29th. Barrington Research decreased their target price on shares of Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 25th. Finally, Canaccord Genuity Group lowered their target price on Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, March 25th.

Concentrix Price Performance

Shares of CNXC opened at $26.42 on Monday. The stock has a 50 day moving average price of $34.38 and a 200 day moving average price of $39.78. Concentrix has a one year low of $24.27 and a one year high of $64.74. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.40 and a current ratio of 1.18. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of -1.23, a PEG ratio of 0.33 and a beta of 0.50.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Tuesday, March 24th. The company reported $2.61 earnings per share 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 firm had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter in the previous year, the business posted $2.79 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities research analysts forecast that Concentrix will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th will be paid a dividend of $0.36 per share. 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 5.5%. Concentrix’s payout ratio is -6.68%.

Insiders Place Their Bets

In related news, 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 cost of $37.07 per share, for a total transaction of $37,070.00. Following the acquisition, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CNXC. Hussman Strategic Advisors Inc. acquired a new position in Concentrix in the 3rd quarter valued at about $1,938,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Concentrix during the 3rd quarter worth approximately $9,627,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Concentrix during the 2nd quarter worth approximately $5,942,000. Capital Management Corp VA raised its position in shares of Concentrix by 45.0% during the 3rd quarter. Capital Management Corp VA now owns 472,681 shares of the company’s stock valued at $21,814,000 after buying an additional 146,688 shares during the period. Finally, Natixis acquired a new position in Concentrix in the second quarter valued at approximately $1,872,000. 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.