Analysts Set Concentrix Corporation (NASDAQ:CNXC) PT at $48.50

Shares of Concentrix Corporation (NASDAQ:CNXC) have been given a consensus rating of “Hold” by the five research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $48.50.

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a research report on Monday, April 27th. Barrington Research cut their target price on Concentrix from $62.00 to $38.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Canaccord Genuity Group cut their target price on Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Robert W. Baird cut their target price on Concentrix from $52.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 25th. Finally, Wall Street Zen lowered Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th.

Concentrix Price Performance

CNXC stock opened at $23.94 on Tuesday. Concentrix has a 1 year low of $22.05 and a 1 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 stock’s 50 day moving average price is $27.81 and its 200 day moving average price is $34.26. The firm has a market cap of $1.46 billion, a P/E ratio of -1.11, a PEG ratio of 0.30 and a beta of 0.37.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results 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). The business had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.49 billion. Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the company earned $2.79 EPS. On average, sell-side analysts expect that Concentrix will post 10.42 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 6.0%. The ex-dividend date was Friday, April 24th. Concentrix’s dividend payout ratio is currently -6.68%.

Insider Buying and Selling at Concentrix

In related news, CFO Andre S. Valentine purchased 2,500 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average cost of $27.95 per share, for a total transaction of $69,875.00. Following the acquisition, the chief financial officer owned 89,066 shares in the company, valued at approximately $2,489,394.70. This trade represents a 2.89% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Concentrix

Several large investors have recently added to or reduced their stakes in CNXC. Huntington National Bank increased its holdings in Concentrix by 6,011.1% in the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock valued at $25,000 after purchasing an additional 541 shares in the last quarter. Quent Capital LLC acquired a new stake in Concentrix in the 3rd quarter valued at $29,000. Larson Financial Group LLC increased its holdings in Concentrix by 224.9% in the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock valued at $32,000 after purchasing an additional 479 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Concentrix by 532.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after purchasing an additional 522 shares in the last quarter. Finally, Rothschild Investment LLC increased its holdings in Concentrix by 14,980.0% in the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock valued at $35,000 after purchasing an additional 749 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

About Concentrix

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.