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

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) 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.

• Concentrix: High Debt and Struggling Margins

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.

Get Our Latest Report on CNXC

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 - Get Free Report) 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.

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