Concentrix Corp. (NASDAQ: CNXC) is -47.66% lower on its value in year-to-date trading and has touched a low of $45.61 and a high of $106.10 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The CNXC stock was last observed hovering at around $49.92 in the last trading session, with the day’s gains setting it 1.48%.
Currently trading at $51.40, the stock is -4.18% and -18.01% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.92 million and changing 2.96% at the moment leaves the stock -24.52% off its SMA200. CNXC registered -36.35% loss for a year compared to 6-month gain of -6.97%. The firm has a 50-day simple moving average (SMA 50) of $62.9563 and a 200-day simple moving average (SMA200) of $68.3279.
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The stock witnessed a -20.21% loss in the last 1 month and extending the period to 3 months gives it a -24.63%, and is 8.92% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.81% over the week and 3.72% over the month.
Concentrix Corp. (CNXC) has around 440000 employees, a market worth around $3.33B and $9.40B in sales. Current P/E ratio is 16.64 and Fwd P/E is 4.18. Profit margin for the company is 2.11%. Distance from 52-week low is 12.69% and -51.56% from its 52-week high. The company has generated returns on investments over the last 12 months (2.04%).
Concentrix Corp. quarterly earnings per share for the current quarter are estimated at 3.07 with sales reaching $2.44B over the same period.The EPS is expected to shrink by -2.33% this year, but quarterly earnings will post 35.10% year-over-year. Quarterly sales are estimated to grow 9.50% in year-over-year returns.
410.0 institutions hold shares in Concentrix Corp. (CNXC), with institutional investors hold 97.47% of the company’s shares. The shares outstanding are 65.73M, and float is at 46.15M with Short Float at 10.82%. Institutions hold 82.64% of the Float.
The top institutional shareholder in the company is GROUPE BRUXELLES LAMBERT with over 8.77 million shares valued at $555.2 million. The investor’s holdings represent 13.4421 of the CNXC Shares outstanding. As of 2024-06-30, the second largest holder is FMR LLC with 7.38 million shares valued at $466.95 million to account for 11.3054 of the shares outstanding. The other top investors are VANGUARD GROUP INC which holds 5.24 million shares representing 8.0278 and valued at over $331.57 million, while BLACKROCK INC. holds 6.1331 of the shares totaling 4.0 million with a market value of $253.32 million.
Concentrix Corp. (CNXC) Insider Activity
The most recent transaction is an insider sale by Caldwell Christopher A, the company’s President and CEO. SEC filings show that Caldwell Christopher A sold 9,823 shares of the company’s common stock on Oct 04 ’24 at a price of $52.70 per share for a total of $0.52 million. Following the sale, the insider now owns 0.24 million shares.
Still, SEC filings show that on Sep 30 ’24, Twomey Cormac J (EVP, Global Ops & Delivery) disposed off 1,544 shares at an average price of $51.38 for $79331.0. The insider now directly holds 27,783 shares of Concentrix Corp. (CNXC).
