Concentrix Co. (NASDAQ:CNXC – Get Free Report) gapped down prior to trading on Wednesday after Barrington Research lowered their price target on the stock from $121.00 to $84.00. The stock had previously closed at $62.23, but opened at $59.96. Barrington Research currently has an outperform rating on the stock. Concentrix shares last traded at $64.24, with a volume of 275,411 shares changing hands.
Institutional Trading of Concentrix
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Concentrix by 23.9% during the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after buying an additional 1,034,546 shares in the last quarter. Pineridge Advisors LLC purchased a new stake in Concentrix during the fourth quarter valued at about $35,000. American International Group Inc. lifted its stake in Concentrix by 4.9% during the fourth quarter. American International Group Inc. now owns 63,846 shares of the company’s stock valued at $6,270,000 after buying an additional 2,969 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Concentrix by 4.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 27,443 shares of the company’s stock valued at $2,696,000 after purchasing an additional 1,064 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Concentrix by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 18,385 shares of the company’s stock valued at $1,806,000 after purchasing an additional 502 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.
Concentrix Stock Up 4.8 %
The company has a market cap of $4.32 billion, a price-to-earnings ratio of 11.36, a P/E/G ratio of 0.66 and a beta of 0.50. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.19. The business has a fifty day moving average price of $78.93 and a two-hundred day moving average price of $83.74.
Concentrix (NASDAQ:CNXC – Get Free Report) last issued its earnings results on Wednesday, January 24th. The company reported $3.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.92 by $0.15. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.20 billion. Concentrix had a return on equity of 18.31% and a net margin of 4.41%. On average, equities analysts predict that Concentrix Co. will post 11.26 earnings per share for the current year.
Concentrix Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were issued a $0.3025 dividend. The ex-dividend date was Friday, February 2nd. This represents a $1.21 dividend on an annualized basis and a dividend yield of 1.86%. Concentrix’s dividend payout ratio is 20.97%.
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.