Concentrix Co. (NASDAQ:CNXC) to Issue Quarterly Dividend of $0.33

Concentrix Co. (NASDAQ:CNXC) announced a quarterly dividend on Thursday, March 27th, Wall Street Journal reports. Shareholders of record on Friday, April 25th will be given a dividend of 0.3328 per share on Tuesday, May 6th. This represents a $1.33 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, April 25th.

Concentrix has raised its dividend payment by an average of 35.4% annually over the last three years. Concentrix has a payout ratio of 10.5% indicating that its dividend is sufficiently covered by earnings.

Concentrix Price Performance

Shares of CNXC traded up $19.36 during mid-day trading on Thursday, reaching $65.04. The company had a trading volume of 5,752,484 shares, compared to its average volume of 654,010. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The company has a market capitalization of $4.18 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.63 and a beta of 0.69. Concentrix has a twelve month low of $36.28 and a twelve month high of $77.00. The company’s 50-day moving average is $47.58 and its 200-day moving average is $47.73.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.21. Concentrix had a return on equity of 16.67% and a net margin of 2.61%. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. During the same period in the prior year, the company posted $2.57 earnings per share. The business’s revenue for the quarter was down 1.3% compared to the same quarter last year. On average, equities analysts anticipate that Concentrix will post 10.11 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on CNXC. Bank of America boosted their price target on shares of Concentrix from $58.00 to $59.00 and gave the company a “neutral” rating in a research report on Thursday. Barrington Research lowered their price target on shares of Concentrix from $70.00 to $54.00 and set an “outperform” rating for the company in a report on Monday. Finally, Canaccord Genuity Group reduced their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $69.60.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $55.60, for a total transaction of $27,800.00. Following the completion of the sale, the executive vice president now directly owns 41,111 shares of the company’s stock, valued at $2,285,771.60. The trade was a 1.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by corporate insiders.

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.