Concentrix Co. (NASDAQ:CNXC – Get Rating) Director Dennis Polk sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $113.33, for a total transaction of $1,133,300.00. Following the transaction, the director now owns 16,518 shares of the company’s stock, valued at approximately $1,871,984.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Dennis Polk also recently made the following trade(s):
- On Monday, August 1st, Dennis Polk sold 10,000 shares of Concentrix stock. The shares were sold at an average price of $134.82, for a total transaction of $1,348,200.00.
Concentrix Stock Performance
CNXC stock traded up $0.57 on Wednesday, hitting $122.56. The company’s stock had a trading volume of 230,060 shares, compared to its average volume of 269,279. The firm has a 50 day moving average of $126.83 and a two-hundred day moving average of $142.13. Concentrix Co. has a 1 year low of $108.57 and a 1 year high of $208.48. The stock has a market cap of $6.38 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 0.85 and a beta of 0.64. The company has a current ratio of 1.67, a quick ratio of 1.59 and a debt-to-equity ratio of 0.91.
Concentrix (NASDAQ:CNXC – Get Rating) last released its quarterly earnings results on Thursday, September 29th. The company reported $2.95 EPS for the quarter, missing the consensus estimate of $2.97 by ($0.02). Concentrix had a net margin of 7.39% and a return on equity of 21.55%. The business had revenue of $1.58 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same quarter last year, the company earned $2.35 EPS. The firm’s revenue for the quarter was up 13.1% compared to the same quarter last year. Equities analysts predict that Concentrix Co. will post 11.31 EPS for the current fiscal year.
Concentrix Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Shareholders of record on Friday, October 28th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Thursday, October 27th. This represents a $1.10 dividend on an annualized basis and a yield of 0.90%. This is an increase from Concentrix’s previous quarterly dividend of $0.25. Concentrix’s dividend payout ratio is presently 11.60%.
Analysts Set New Price Targets
Separately, Barrington Research reduced their price target on shares of Concentrix from $183.00 to $174.00 and set an “outperform” rating for the company in a research report on Friday, September 30th.
Hedge Funds Weigh In On Concentrix
Large investors have recently bought and sold shares of the company. HM Payson & Co. raised its position in Concentrix by 846.7% during the 4th quarter. HM Payson & Co. now owns 142 shares of the company’s stock worth $25,000 after buying an additional 127 shares during the last quarter. Ronald Blue Trust Inc. purchased a new position in shares of Concentrix in the 2nd quarter valued at about $32,000. Rockefeller Capital Management L.P. increased its holdings in shares of Concentrix by 67.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 272 shares of the company’s stock valued at $47,000 after purchasing an additional 110 shares in the last quarter. CoreCap Advisors LLC purchased a new position in shares of Concentrix in the 2nd quarter valued at about $41,000. Finally, Prospera Financial Services Inc purchased a new position in shares of Concentrix in the 1st quarter valued at about $56,000. Hedge funds and other institutional investors own 93.24% of the company’s stock.
Concentrix Company Profile
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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Read More: Dennis Polk Sells 10,000 Shares of Concentrix Co. (NASDAQ:CNXC) Stock