Concentrix (NASDAQ:CNXC) Sets New 12-Month Low at $56.21

Concentrix Co. (NASDAQ:CNXC)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $56.21 and last traded at $56.21, with a volume of 73798 shares traded. The stock had previously closed at $57.54.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America restated an “underperform” rating and issued a $60.00 target price (down from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. Barrington Research lowered their price objective on Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Concentrix currently has an average rating of “Hold” and a consensus price target of $82.25.

Concentrix Price Performance

The firm has a market cap of $3.67 billion, a P/E ratio of 11.86, a PEG ratio of 0.66 and a beta of 0.48. The business’s fifty day simple moving average is $69.24 and its 200-day simple moving average is $82.34. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, January 24th. The company reported $3.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.92 by $0.15. Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. As a group, analysts forecast that Concentrix Co. will post 11.03 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Stockholders of record on Friday, April 26th will be given a $0.303 dividend. This is a positive change from Concentrix’s previous quarterly dividend of $0.30. This represents a $1.21 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Thursday, April 25th. Concentrix’s dividend payout ratio (DPR) is 24.95%.

Institutional Trading of Concentrix

A number of hedge funds and other institutional investors have recently bought and sold shares of CNXC. Cambridge Investment Research Advisors Inc. grew its position in shares of Concentrix by 7.7% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,859 shares of the company’s stock valued at $310,000 after purchasing an additional 133 shares in the last quarter. BlackRock Inc. increased its stake in Concentrix by 1.0% in the 1st quarter. BlackRock Inc. now owns 3,668,975 shares of the company’s stock worth $611,103,000 after acquiring an additional 35,619 shares during the last quarter. Great West Life Assurance Co. Can increased its stake in Concentrix by 8.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 23,644 shares of the company’s stock worth $4,049,000 after acquiring an additional 1,761 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Concentrix by 168.7% in the 1st quarter. Sei Investments Co. now owns 22,904 shares of the company’s stock valued at $3,823,000 after acquiring an additional 14,380 shares in the last quarter. Finally, Aviva PLC purchased a new position in shares of Concentrix during the first quarter worth about $593,000. Institutional investors own 90.34% of the company’s stock.

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.