Concentrix (NASDAQ:CNXC) Shares Gap Down to $121.12

Concentrix Co. (NASDAQ:CNXCGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $121.12, but opened at $117.79. Concentrix shares last traded at $119.04, with a volume of 6 shares.

Analyst Upgrades and Downgrades

Separately, Barrington Research reduced their price objective on Concentrix from $202.00 to $183.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 5th.

Concentrix Trading Down 1.2 %

The stock has a market cap of $6.13 billion, a P/E ratio of 13.61, a P/E/G ratio of 0.77 and a beta of 0.51. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.81. The company has a 50-day moving average price of $129.34 and a two-hundred day moving average price of $147.96.

Concentrix (NASDAQ:CNXCGet Rating) last released its earnings results on Monday, June 27th. The company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.62 by $0.12. The firm had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $1.57 billion. Concentrix had a return on equity of 20.87% and a net margin of 7.66%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.37 EPS. On average, research analysts expect that Concentrix Co. will post 11.31 EPS for the current fiscal year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 9th. Shareholders of record on Friday, July 29th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend was Thursday, July 28th. Concentrix’s dividend payout ratio (DPR) is presently 11.55%.

Insider Buying and Selling at Concentrix

In other Concentrix news, CFO Andre S. Valentine acquired 2,500 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were bought at an average price of $126.99 per share, with a total value of $317,475.00. Following the transaction, the chief financial officer now directly owns 39,470 shares of the company’s stock, valued at approximately $5,012,295.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Concentrix news, CFO Andre S. Valentine acquired 2,500 shares of the business’s stock in a transaction on Tuesday, July 12th. The shares were bought at an average price of $126.99 per share, with a total value of $317,475.00. Following the transaction, the chief financial officer now directly owns 39,470 shares of the company’s stock, valued at approximately $5,012,295.30. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Star Developments Ltd Silver sold 524,691 shares of the company’s stock in a transaction on Tuesday, July 19th. The stock was sold at an average price of $125.00, for a total value of $65,586,375.00. Following the completion of the sale, the insider now owns 4,415,535 shares of the company’s stock, valued at $551,941,875. The disclosure for this sale can be found here. Insiders have sold 549,596 shares of company stock valued at $68,915,729 in the last quarter. 0.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Concentrix

Several hedge funds have recently made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of Concentrix by 4.0% in the 2nd quarter. Federated Hermes Inc. now owns 7,749 shares of the company’s stock worth $1,052,000 after buying an additional 298 shares during the period. Hussman Strategic Advisors Inc. lifted its holdings in shares of Concentrix by 150.0% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 13,000 shares of the company’s stock worth $1,763,000 after buying an additional 7,800 shares during the period. Amundi lifted its stake in shares of Concentrix by 40.8% during the 2nd quarter. Amundi now owns 373 shares of the company’s stock worth $47,000 after purchasing an additional 108 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Concentrix during the 2nd quarter worth $538,000. Finally, Prelude Capital Management LLC lifted its stake in shares of Concentrix by 304.2% during the 2nd quarter. Prelude Capital Management LLC now owns 4,871 shares of the company’s stock worth $661,000 after purchasing an additional 3,666 shares during the last quarter. 93.24% of the stock is currently owned by hedge funds and other institutional investors.

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.

See Also

Receive News & Ratings for Concentrix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concentrix and related companies with MarketBeat.com's FREE daily email newsletter.