Concentrix (NASDAQ:CNXC) Stock Rating Reaffirmed by Barrington Research

Concentrix (NASDAQ:CNXC)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $84.00 price target on the stock. Barrington Research’s target price points to a potential upside of 32.53% from the stock’s current price.

Several other research firms have also recently commented on CNXC. Bank of America upgraded Concentrix from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $65.00 to $85.00 in a research note on Wednesday, August 28th. Canaccord Genuity Group restated a “buy” rating and issued a $125.00 target price on shares of Concentrix in a research note on Thursday, June 27th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.75.

Concentrix Trading Down 1.2 %

NASDAQ:CNXC opened at $63.38 on Friday. Concentrix has a fifty-two week low of $53.89 and a fifty-two week high of $106.10. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.54 and a quick ratio of 1.56. The stock has a market capitalization of $4.14 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 0.70 and a beta of 0.61. The business’s 50-day simple moving average is $68.36 and its 200-day simple moving average is $63.86.

Concentrix (NASDAQ:CNXC) last released its earnings results on Wednesday, June 26th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.63 by $0.06. The firm had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Concentrix had a return on equity of 17.00% and a net margin of 3.08%. The business’s quarterly revenue was up 47.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 EPS. Sell-side analysts expect that Concentrix will post 10.8 earnings per share for the current fiscal year.

Insider Transactions at Concentrix

In other news, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $67.23, for a total transaction of $26,892.00. Following the sale, the executive vice president now owns 29,727 shares in the company, valued at approximately $1,998,546.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders have sold a total of 1,200 shares of company stock worth $82,028 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Concentrix

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pineridge Advisors LLC bought a new stake in shares of Concentrix during the 4th quarter worth approximately $35,000. Hexagon Capital Partners LLC increased its holdings in shares of Concentrix by 2,992.3% during the 2nd quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock worth $25,000 after acquiring an additional 389 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Concentrix by 1,005.0% during the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock worth $28,000 after acquiring an additional 402 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of Concentrix by 54.0% during the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after acquiring an additional 285 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Concentrix during the 2nd quarter worth approximately $68,000. Institutional investors own 90.34% of the company’s stock.

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.