Concentrix Co. (NASDAQ:CNXC – Get Free Report) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, October 25th will be given a dividend of 0.333 per share on Tuesday, November 5th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend is Friday, October 25th. This is a positive change from Concentrix’s previous quarterly dividend of $0.30.
Concentrix has a dividend payout ratio of 10.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Concentrix to earn $11.02 per share next year, which means the company should continue to be able to cover its $1.33 annual dividend with an expected future payout ratio of 12.1%.
Concentrix Stock Down 1.0 %
CNXC stock opened at $44.69 on Thursday. The firm has a market cap of $2.90 billion, a PE ratio of 14.51, a P/E/G ratio of 0.62 and a beta of 0.58. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57. The firm’s fifty day moving average is $61.66 and its 200 day moving average is $62.10. Concentrix has a one year low of $44.18 and a one year high of $106.10.
Insider Activity at Concentrix
In related news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the completion of the sale, the executive vice president now owns 29,327 shares in the company, valued at $2,188,674.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Concentrix news, EVP Cormac J. Twomey sold 1,544 shares of the business’s stock in a transaction on Monday, September 30th. The shares were sold at an average price of $51.38, for a total value of $79,330.72. Following the transaction, the executive vice president now directly owns 27,783 shares of the company’s stock, valued at approximately $1,427,490.54. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Cormac J. Twomey sold 400 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the completion of the transaction, the executive vice president now directly owns 29,327 shares in the company, valued at $2,188,674.01. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,167 shares of company stock worth $653,747 in the last 90 days. 3.10% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. Barrington Research dropped their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Canaccord Genuity Group decreased their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, September 26th. Bank of America decreased their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, September 26th. Finally, Robert W. Baird initiated coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective for the company. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $79.00.
Read Our Latest Report on Concentrix
Concentrix Company Profile
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.
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