Concentrix (NASDAQ:CNXC) Announces Quarterly Earnings Results

Concentrix (NASDAQ:CNXC) issued its quarterly earnings results on Tuesday. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.03), FiscalAI reports. The business had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. Concentrix had a negative net margin of 13.02% and a positive return on equity of 16.91%.

Concentrix Trading Up 4.8%

Shares of CNXC stock opened at $33.04 on Tuesday. Concentrix has a 52-week low of $29.35 and a 52-week high of $66.00. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $2.03 billion, a PE ratio of -1.59, a PEG ratio of 0.33 and a beta of 0.50. The stock has a fifty day simple moving average of $35.59 and a two-hundred day simple moving average of $40.53.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Stockholders of record on Friday, January 30th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Friday, January 30th. Concentrix’s dividend payout ratio (DPR) is presently -6.91%.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The stock was bought at an average cost of $37.07 per share, with a total value of $37,070.00. Following the completion of the purchase, the chief executive officer owned 362,075 shares in the company, valued at approximately $13,422,120.25. This represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CNXC. Larson Financial Group LLC increased its position in shares of Concentrix by 224.9% during the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after purchasing an additional 479 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after buying an additional 522 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Concentrix by 1,032.5% in the fourth quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock worth $36,000 after acquiring an additional 795 shares in the last quarter. Johnson Financial Group Inc. purchased a new stake in shares of Concentrix during the third quarter worth about $69,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Concentrix during the fourth quarter valued at about $100,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

CNXC has been the topic of a number of recent research reports. Barrington Research reaffirmed an “outperform” rating and set a $62.00 price objective on shares of Concentrix in a research note on Tuesday, March 17th. Weiss Ratings cut shares of Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a research report on Thursday, January 29th. Robert W. Baird set a $52.00 price target on Concentrix in a research note on Wednesday, January 14th. Finally, Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.75.

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.