Concentrix Co. (NASDAQ:CNXC) CEO Christopher A. Caldwell Acquires 900 Shares

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

Concentrix Stock Performance

NASDAQ:CNXC opened at $55.20 on Tuesday. The stock has a 50-day moving average price of $66.94 and a 200 day moving average price of $81.66. The stock has a market capitalization of $3.64 billion, a P/E ratio of 11.38, a P/E/G ratio of 0.63 and a beta of 0.48. Concentrix Co. has a 12-month low of $54.16 and a 12-month high of $106.44. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data 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 company had revenue of $2.40 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. Equities research analysts forecast that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 7th. Investors of record on Friday, April 26th will be paid a dividend of $0.303 per share. This represents a $1.21 annualized dividend and a yield of 2.20%. This is a boost from Concentrix’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s dividend payout ratio (DPR) is presently 24.95%.

Wall Street Analyst Weigh In

A number of research firms have commented on CNXC. Barrington Research decreased their target price 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. Bank of America restated an “underperform” rating and set a $60.00 price objective (down from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Concentrix has an average rating of “Hold” and an average target price of $82.25.

Institutional Trading of Concentrix

Several hedge funds have recently bought and sold shares of the stock. First Horizon Advisors Inc. grew its position in shares of Concentrix by 381.7% during the fourth quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after purchasing an additional 271 shares in the last quarter. Pineridge Advisors LLC bought a new position in Concentrix during the fourth quarter valued at approximately $35,000. Parkside Financial Bank & Trust grew its holdings in Concentrix by 146.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after buying an additional 374 shares in the last quarter. Headlands Technologies LLC bought a new stake in Concentrix in the 3rd quarter worth approximately $65,000. Finally, Ronald Blue Trust Inc. raised its holdings in shares of Concentrix by 382.1% during 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 in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.