Christopher A. Caldwell Buys 900 Shares of Concentrix Co. (NASDAQ:CNXC) Stock

Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell bought 900 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was bought at an average cost of $54.59 per share, with a total value of $49,131.00. Following the transaction, the chief executive officer now directly owns 239,128 shares in the company, valued at approximately $13,053,997.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $56.64 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. Concentrix Co. has a fifty-two week low of $54.16 and a fifty-two week high of $106.44. The firm has a 50-day simple moving average of $66.48 and a 200 day simple moving average of $81.49. The company has a market cap of $3.74 billion, a PE ratio of 11.68, a P/E/G ratio of 0.63 and a beta of 0.48.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). The firm had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. On average, sell-side analysts anticipate that Concentrix Co. will post 11.03 EPS for the current year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Shareholders of record on Friday, April 26th will be paid a dividend of $0.303 per share. This represents a $1.21 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s payout ratio is presently 24.95%.

Analysts Set New Price Targets

CNXC has been the subject of a number of recent research reports. Bank of America reaffirmed an “underperform” rating and set a $60.00 price objective (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. Barrington Research lowered their price objective on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating for the company in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $82.25.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its stake in Concentrix by 381.7% during the 4th quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares during the period. Pineridge Advisors LLC acquired a new position in Concentrix during the 4th quarter valued at about $35,000. Parkside Financial Bank & Trust lifted its stake in shares of Concentrix by 146.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock worth $62,000 after acquiring an additional 374 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Concentrix in the 3rd quarter worth approximately $65,000. Finally, Ronald Blue Trust Inc. lifted its stake in shares of Concentrix by 382.1% in the 3rd quarter. Ronald Blue Trust Inc. now owns 887 shares of the company’s stock worth $72,000 after acquiring an additional 703 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

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.