Concentrix Co. (NASDAQ:CNXC) EVP Jane Fogarty Acquires 200 Shares

Posted by Defense World Staff on Oct 11th, 2023

Concentrix Co. (NASDAQ:CNXC – Get Free Report) EVP Jane Fogarty acquired 200 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were acquired at an average cost of $78.00 per share, for a total transaction of $15,600.00. Following the completion of the acquisition, the executive vice president now owns 5,295 shares of the company’s stock, valued at $413,010. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Concentrix Stock Up 1.0 %

CNXC stock opened at $81.33 on Wednesday. The company has a current ratio of 3.54, a quick ratio of 1.74 and a debt-to-equity ratio of 1.37. The company’s 50 day moving average is $76.30 and its 200 day moving average is $86.99. The stock has a market cap of $4.23 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 1.01 and a beta of 0.40. Concentrix Co. has a 1-year low of $70.58 and a 1-year high of $151.82.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 7th. Investors of record on Friday, October 27th will be given a $0.303 dividend. This represents a $1.21 annualized dividend and a dividend yield of 1.49%. This is a boost from Concentrix’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, October 26th. Concentrix’s dividend payout ratio is 18.09%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its position in Concentrix by 89.1% during the third quarter. Massmutual Trust Co. FSB ADV now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 147 shares during the last quarter. Huntington National Bank grew its holdings in shares of Concentrix by 98.1% in the second quarter. Huntington National Bank now owns 315 shares of the company’s stock worth $25,000 after purchasing an additional 156 shares during the last quarter. Quarry LP bought a new position in shares of Concentrix in the first quarter worth approximately $26,000. EverSource Wealth Advisors LLC grew its holdings in shares of Concentrix by 326.7% in the second quarter. EverSource Wealth Advisors LLC now owns 559 shares of the company’s stock worth $45,000 after purchasing an additional 428 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Concentrix by 702.8% in the second quarter. Covestor Ltd now owns 578 shares of the company’s stock worth $46,000 after purchasing an additional 506 shares during the last quarter. 79.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Redburn Atlantic started coverage on shares of Concentrix in a report on Wednesday, September 6th. They set a “neutral” rating and a $70.00 price objective on the stock. Scotiabank lowered their price target on shares of Concentrix from $120.00 to $115.00 in a report on Tuesday. Bank of America downgraded shares of Concentrix from a “buy” rating to a “neutral” rating in a report on Thursday, June 29th. Finally, Barrington Research lowered their price target on shares of Concentrix from $165.00 to $98.00 in a report on Thursday, June 29th. 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, Concentrix presently has a consensus rating of “Moderate Buy” and an average price target of $119.60.

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About Concentrix

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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.