Insider Selling: Concentrix Co. (NASDAQ:CNXC) EVP Sells $22,004.00 in Stock

Concentrix Co. (NASDAQ:CNXC) EVP Cormac J. Twomey sold 400 shares of the stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $55.01, for a total transaction of $22,004.00. Following the sale, the executive vice president now owns 30,927 shares of the company’s stock, valued at approximately $1,701,294.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $59.35 on Friday. The company’s fifty day moving average is $62.70 and its two-hundred day moving average is $80.27. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a market capitalization of $3.92 billion, a P/E ratio of 12.24, a PEG ratio of 0.66 and a beta of 0.55. Concentrix Co. has a one year low of $53.89 and a one year high of $106.10.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Analysts forecast that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be issued a dividend of $0.303 per share. The ex-dividend date of this dividend is Thursday, April 25th. This is a boost from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 annualized dividend and a yield of 2.04%. Concentrix’s payout ratio is currently 24.95%.

Institutional Trading of Concentrix

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp raised its stake in shares of Concentrix by 9.1% during the 4th quarter. Fifth Third Bancorp now owns 1,481 shares of the company’s stock worth $145,000 after buying an additional 123 shares during the last quarter. Ieq Capital LLC raised its position in Concentrix by 3.3% during the fourth quarter. Ieq Capital LLC now owns 4,920 shares of the company’s stock worth $483,000 after acquiring an additional 157 shares during the last quarter. Miracle Mile Advisors LLC lifted its holdings in shares of Concentrix by 4.0% in the third quarter. Miracle Mile Advisors LLC now owns 4,366 shares of the company’s stock valued at $350,000 after purchasing an additional 168 shares in the last quarter. Arizona State Retirement System grew its position in shares of Concentrix by 1.4% in the third quarter. Arizona State Retirement System now owns 12,598 shares of the company’s stock valued at $1,009,000 after purchasing an additional 168 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its stake in shares of Concentrix by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company’s stock worth $1,912,000 after purchasing an additional 190 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CNXC shares. Scotiabank decreased their price objective on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research report on Monday, April 29th. Bank of America reaffirmed an “underperform” rating and set a $60.00 price target (down from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. Finally, Barrington Research dropped their price objective on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Concentrix currently has an average rating of “Hold” and a consensus price target of $74.75.

About Concentrix

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.