Concentrix (NASDAQ:CNXC – Get Free Report) will issue its quarterly earnings data after the market closes on Wednesday, September 27th. Analysts expect the company to announce earnings of $2.62 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.
Concentrix (NASDAQ:CNXC – Get Free Report) last issued its quarterly earnings data on Wednesday, June 28th. The company reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.75 by ($0.06). Concentrix had a return on equity of 19.99% and a net margin of 5.85%. The business had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same period in the prior year, the firm earned $2.74 EPS. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, analysts expect Concentrix to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.
Concentrix Stock Performance
Shares of Concentrix stock opened at $72.88 on Wednesday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.75. Concentrix has a twelve month low of $70.58 and a twelve month high of $151.82. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 10.07, a P/E/G ratio of 0.67 and a beta of 0.42. The company’s fifty day moving average is $78.49 and its 200 day moving average is $92.05.
Concentrix Dividend Announcement
Insider Buying and Selling at Concentrix
In related news, EVP Jane Fogarty acquired 400 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average price of $82.85 per share, for a total transaction of $33,140.00. Following the completion of the acquisition, the executive vice president now owns 5,217 shares of the company’s stock, valued at $432,228.45. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, EVP Jane Fogarty acquired 400 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average price of $82.85 per share, for a total transaction of $33,140.00. Following the completion of the acquisition, the executive vice president now owns 5,217 shares of the company’s stock, valued at $432,228.45. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Kathryn Hayley acquired 300 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were bought at an average price of $83.93 per share, for a total transaction of $25,179.00. Following the acquisition, the director now directly owns 2,155 shares of the company’s stock, valued at approximately $180,869.15. The disclosure for this purchase can be found here. Insiders own 0.88% of the company’s stock.
Hedge Funds Weigh In On Concentrix
Several institutional investors have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL acquired a new stake in shares of Concentrix in the 2nd quarter worth about $977,000. Alliancebernstein L.P. raised its holdings in shares of Concentrix by 4.9% in the 2nd quarter. Alliancebernstein L.P. now owns 85,119 shares of the company’s stock worth $6,873,000 after acquiring an additional 4,005 shares during the last quarter. Wells Fargo & Company MN raised its holdings in shares of Concentrix by 292.1% in the 2nd quarter. Wells Fargo & Company MN now owns 16,034 shares of the company’s stock worth $1,295,000 after acquiring an additional 11,945 shares during the last quarter. IMA Wealth Inc. acquired a new stake in shares of Concentrix in the 2nd quarter worth about $885,000. Finally, Bragg Financial Advisors Inc raised its holdings in shares of Concentrix by 14.3% in the 2nd quarter. Bragg Financial Advisors Inc now owns 133,300 shares of the company’s stock worth $10,764,000 after acquiring an additional 16,658 shares during the last quarter. Institutional investors and hedge funds own 79.03% of the company’s stock.
Analyst Ratings Changes
CNXC has been the topic of several analyst reports. Barrington Research reduced their price objective on shares of Concentrix from $165.00 to $98.00 in a research note on Thursday, June 29th. Scotiabank assumed coverage on shares of Concentrix in a research report on Wednesday, August 23rd. They set a “sector outperform” rating and a $120.00 price target on the stock. Bank of America cut shares of Concentrix from a “buy” rating to a “neutral” rating in a research report on Thursday, June 29th. Finally, Redburn Atlantic assumed coverage on shares of Concentrix in a research report on Wednesday, September 6th. They set a “neutral” rating and a $70.00 price target on the stock. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $120.60.
Read Our Latest Stock Report on Concentrix
About Concentrix
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; analytics and actionable insights; digital transformation; and voice of the customer and analytics solutions.
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