Concentrix Corporation (NASDAQ:CNXC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Concentrix Corporation (NASDAQ:CNXC) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $66.25.

Several research firms recently weighed in on CNXC. Canaccord Genuity Group restated a “buy” rating and set a $80.00 price target on shares of Concentrix in a research report on Tuesday, September 23rd. Barrington Research restated an “outperform” rating and set a $62.00 price target on shares of Concentrix in a research note on Wednesday, September 24th. Robert W. Baird lowered their price target on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, September 29th. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Finally, Weiss Ratings upgraded Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th.

Insider Buying and Selling

In other Concentrix news, CEO Christopher A. Caldwell bought 1,000 shares of the business’s stock in a transaction on Friday, October 31st. The stock was purchased at an average price of $40.00 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the chief executive officer directly owned 287,661 shares of the company’s stock, valued at $11,506,440. This trade represents a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 4,000 shares of company stock worth $169,410 over the last quarter. 3.20% of the stock is owned by corporate insiders.

Institutional Trading of Concentrix

A number of institutional investors have recently modified their holdings of CNXC. Envestnet Asset Management Inc. grew its stake in Concentrix by 7.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company’s stock valued at $9,213,000 after buying an additional 12,162 shares in the last quarter. Victory Capital Management Inc. grew its position in shares of Concentrix by 120.5% in the first quarter. Victory Capital Management Inc. now owns 143,126 shares of the company’s stock valued at $7,964,000 after purchasing an additional 78,219 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in shares of Concentrix during the 1st quarter valued at $4,291,000. Y Intercept Hong Kong Ltd lifted its holdings in Concentrix by 695.8% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 54,046 shares of the company’s stock worth $3,007,000 after purchasing an additional 47,255 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Concentrix during the 1st quarter worth about $1,931,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Concentrix Stock Performance

Shares of CNXC opened at $33.50 on Tuesday. The stock has a 50 day moving average of $46.09 and a 200 day moving average of $51.20. The company has a market capitalization of $2.09 billion, a price-to-earnings ratio of 7.08, a PEG ratio of 0.51 and a beta of 0.49. Concentrix has a 12 month low of $33.41 and a 12 month high of $66.00. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.10.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Thursday, September 25th. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.10). Concentrix had a net margin of 3.25% and a return on equity of 16.02%. The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same quarter last year, the company earned $2.87 EPS. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS. Q4 2025 guidance at 2.850-2.960 EPS. As a group, sell-side analysts forecast that Concentrix will post 10.11 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 4th. Investors of record on Friday, October 24th were paid a $0.36 dividend. The ex-dividend date was Friday, October 24th. This represents a $1.44 dividend on an annualized basis and a yield of 4.3%. This is an increase from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s dividend payout ratio (DPR) is presently 30.44%.

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.