Concentrix (NASDAQ:CNXC) Sets New 1-Year Low at $58.43

Shares of Concentrix Co. (NASDAQ:CNXCGet Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $58.43 and last traded at $58.48, with a volume of 412278 shares. The stock had previously closed at $61.46.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Barrington Research decreased their price target on shares of Concentrix from $121.00 to $84.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 27th. Bank of America reiterated an “underperform” rating and set a $60.00 price target (down previously from $85.00) on shares of Concentrix in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $95.80.

Read Our Latest Analysis on CNXC

Concentrix Stock Down 6.5 %

The company has a quick ratio of 1.38, a current ratio of 1.56 and a debt-to-equity ratio of 1.23. The company has a market cap of $3.81 billion, a P/E ratio of 12.67, a PEG ratio of 0.73 and a beta of 0.48. The firm has a fifty day moving average price of $75.44 and a 200 day moving average price of $83.43.

Concentrix (NASDAQ:CNXCGet Free Report) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $3.07 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 firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. Equities research analysts forecast that Concentrix Co. will post 11.03 earnings per share for the current year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 7th. Investors 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 yield of 2.11%. The ex-dividend date is Thursday, April 25th. Concentrix’s dividend payout ratio is 24.95%.

Institutional Trading of Concentrix

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Concentrix by 23.9% in the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after purchasing an additional 1,034,546 shares in the last quarter. Pineridge Advisors LLC acquired a new stake in Concentrix in the fourth quarter valued at approximately $35,000. American International Group Inc. boosted its stake in shares of Concentrix by 4.9% during the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Concentrix by 4.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 27,443 shares of the company’s stock worth $2,696,000 after purchasing an additional 1,064 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Concentrix by 2.8% in the fourth 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.

About Concentrix

(Get Free Report)

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.

Read More

Receive News & Ratings for Concentrix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Concentrix and related companies with MarketBeat.com's FREE daily email newsletter.