Concentrix Co. (NASDAQ:CNXC) Plans Quarterly Dividend of $0.25

Concentrix Co. (NASDAQ:CNXCGet Rating) declared a quarterly dividend on Tuesday, March 29th, Zacks reports. Stockholders of record on Friday, April 29th will be paid a dividend of 0.25 per share on Tuesday, May 10th. This represents a $1.00 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, April 28th.

Shares of CNXC stock opened at $157.65 on Tuesday. Concentrix has a 1 year low of $141.38 and a 1 year high of $208.48. The stock has a market cap of $8.27 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 0.88 and a beta of 0.01. The business’s fifty day moving average is $182.12 and its 200-day moving average is $180.97. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.57 and a current ratio of 1.57.

Concentrix (NASDAQ:CNXCGet Rating) last issued its quarterly earnings results on Tuesday, March 29th. The company reported $2.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.71 by $0.14. Concentrix had a return on equity of 20.51% and a net margin of 7.40%. During the same quarter in the previous year, the firm posted $2.18 EPS. Equities research analysts predict that Concentrix will post 11.32 earnings per share for the current year.

Separately, Zacks Investment Research lowered Concentrix from a “hold” rating to a “sell” rating in a research note on Thursday, April 7th.

In other news, Director Dennis Polk sold 10,000 shares of the firm’s stock in a transaction on Friday, April 1st. The stock was sold at an average price of $163.42, for a total transaction of $1,634,200.00. Following the completion of the sale, the director now directly owns 18,282 shares of the company’s stock, valued at approximately $2,987,644.44. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last three months, insiders have sold 22,500 shares of company stock valued at $4,061,850. Corporate insiders own 0.98% of the company’s stock.

Several institutional investors have recently modified their holdings of CNXC. Morgan Stanley acquired a new stake in shares of Concentrix in the second quarter worth $31,235,000. Royal Bank of Canada boosted its position in shares of Concentrix by 71.8% in the third quarter. Royal Bank of Canada now owns 6,033 shares of the company’s stock worth $1,067,000 after buying an additional 2,521 shares during the period. LPL Financial LLC boosted its position in shares of Concentrix by 28.0% in the fourth quarter. LPL Financial LLC now owns 2,324 shares of the company’s stock worth $415,000 after buying an additional 508 shares during the period. D. E. Shaw & Co. Inc. boosted its position in Concentrix by 447.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 30,619 shares of the company’s stock valued at $5,469,000 after purchasing an additional 25,024 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in Concentrix by 9.3% during the fourth quarter. Cubist Systematic Strategies LLC now owns 12,824 shares of the company’s stock valued at $2,291,000 after purchasing an additional 1,087 shares during the last quarter. 75.98% of the stock is owned by institutional investors and hedge funds.

Concentrix Company Profile (Get Rating)

Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.

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