Concentrix (NASDAQ:CNXC) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Concentrix (NASDAQ:CNXC) issued its earnings results on Tuesday. The company reported $2.61 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.03), FiscalAI reports. Concentrix had a positive return on equity of 16.91% and a negative net margin of 13.02%.The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion.

Concentrix Stock Performance

NASDAQ CNXC opened at $33.04 on Tuesday. The firm has a 50-day moving average price of $35.59 and a two-hundred day moving average price of $40.53. Concentrix has a 12-month low of $29.35 and a 12-month high of $66.00. The company has a market capitalization of $2.03 billion, a P/E ratio of -1.59, a P/E/G ratio of 0.33 and a beta of 0.50. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.67.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 10th. Shareholders of record on Friday, January 30th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, January 30th. This represents a $1.44 dividend on an annualized basis and a yield of 4.4%. Concentrix’s payout ratio is currently -6.91%.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell bought 1,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was bought at an average cost of $37.07 per share, for a total transaction of $37,070.00. Following the transaction, the chief executive officer owned 362,075 shares of the company’s stock, valued at $13,422,120.25. This represents a 0.28% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of Concentrix

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC raised its holdings in shares of Concentrix by 224.9% in the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after acquiring an additional 479 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after purchasing an additional 522 shares during the last quarter. Global Retirement Partners LLC grew its position in Concentrix by 1,032.5% during the fourth quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock valued at $36,000 after buying an additional 795 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Concentrix during the 3rd quarter worth approximately $69,000. Finally, Kestra Advisory Services LLC purchased a new stake in Concentrix in the fourth quarter worth $100,000. Institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNXC shares. Barrington Research restated an “outperform” rating and set a $62.00 price objective on shares of Concentrix in a research note on Tuesday, March 17th. Weiss Ratings cut Concentrix from a “hold (c-)” rating to a “sell (d)” rating in a report on Thursday, January 29th. Robert W. Baird set a $52.00 price target on Concentrix in a research report on Wednesday, January 14th. Finally, Wall Street Zen upgraded Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, February 14th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $63.75.

Concentrix Company Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology?driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back?office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.