Shares of Concentrix Corporation (NASDAQ:CNXC – Get Free Report) have received an average rating of “Buy” from the five analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $66.25.
A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price objective on shares of Concentrix in a research note on Tuesday, September 23rd. Wall Street Zen downgraded shares of Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Robert W. Baird dropped their price objective on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday. Bank of America dropped their price objective on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, June 27th. Finally, Barrington Research reiterated an “outperform” rating and issued a $62.00 target price on shares of Concentrix in a report on Wednesday, September 24th.
Get Concentrix alerts:
Read Our Latest Stock Report on CNXC
Concentrix Stock Up 4.5%
Shares of NASDAQ CNXC opened at $48.22 on Monday. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.61. The company has a market cap of $3.04 billion, a P/E ratio of 10.19, a PEG ratio of 0.66 and a beta of 0.50. Concentrix has a 1 year low of $36.28 and a 1 year high of $66.00. The firm has a 50-day simple moving average of $51.70 and a two-hundred day simple moving average of $52.69.
Concentrix Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.0%. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, October 24th. Concentrix’s payout ratio is 28.12%.
Insiders Place Their Bets
In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the completion of the sale, the executive vice president directly owned 37,130 shares in the company, valued at $2,150,198.30. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by company insiders.
Institutional Trading of Concentrix
A number of institutional investors and hedge funds have recently added to or reduced their stakes in CNXC. Geneos Wealth Management Inc. lifted its position in Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after acquiring an additional 522 shares during the period. IFP Advisors Inc grew its position in shares of Concentrix by 473.8% during the 2nd quarter. IFP Advisors Inc now owns 700 shares of the company’s stock valued at $37,000 after acquiring an additional 578 shares during the period. UMB Bank n.a. raised its position in Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company’s stock worth $38,000 after acquiring an additional 217 shares during the period. First Horizon Advisors Inc. raised its position in Concentrix by 111.8% during the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock worth $47,000 after acquiring an additional 444 shares during the period. Finally, True Wealth Design LLC raised its position in Concentrix by 39.3% during the second quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock worth $61,000 after acquiring an additional 328 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.
About Concentrix
(Get Free Report)
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.
Read More
Five stocks we like better than Concentrix
How to Use the MarketBeat Dividend Calculator
Datavault AI: The New AI Contender Backed by Big Funding
Best ESG Stocks: 11 Best Stocks for ESG Investing
CoreWeave: Why the New King of AI Infrastructure Has Room to Run
Compound Interest and Why It Matters When Investing
Top 3 Dividend Achievers for October: High Yields, Growth Ahead