Insider Activity Report: Concentrix Corp (CNXC)

CRM

Kathryn Hayley, a director at Concentrix Corp (CNXC), recently bought 500 shares. The buy increased her stake by 6%, and came to a total cost of $25,110.

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  • This marks the first buy since last April, when multiple insiders bought shares, including the company CEO for nearly $50,000. Those insider buys occurred at far higher prices than where shares trade today. Otherwise, one company EVP has been a steady seller of shares over the past year.

    Overall, Concentrix insiders own 14.3% of shares.

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    The customer experience software company is down 42% over the past year. Earnings have dropped by nearly 80% overall, even as revenues have jumped higher by over 46%.

    That’s a sign that the company has struggled to control costs, and contend with potential competition from larger players who may be able to invest more in AI tools.

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  • Action to take: Despite the company’s mixed operations, Concentrix shares have started to trend higher in recent weeks from oversold levels. Momentum investors may like shares for a possible trade over the next few months.

    Concentrix trades at about 14 times earnings, and pays a 2.8% dividend, which could also make it attractive as a value play here.

    For traders, the current uptrend lends itself to call options. The April $60 calls, last trading for about $2.90, could see mid-double-digit returns in the coming weeks.

    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any company mentioned in this article.

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