Concentrix (NASDAQ:CNXC) Receives Outperform Rating from Barrington Research

Concentrix (NASDAQ:CNXC)‘s stock had its “outperform” rating reaffirmed by equities researchers at Barrington Research in a research note issued to investors on Friday, Benzinga reports. They currently have a $84.00 target price on the stock. Barrington Research’s target price indicates a potential upside of 33.93% from the company’s previous close.

CNXC has been the subject of a number of other reports. Bank of America upgraded shares of Concentrix from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $65.00 to $85.00 in a report on Wednesday, August 28th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $125.00 price target on shares of Concentrix in a research report on Thursday, June 27th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Concentrix currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.75.

Concentrix Trading Down 2.3 %

Shares of Concentrix stock traded down $1.45 during trading on Friday, hitting $62.72. 215,186 shares of the company were exchanged, compared to its average volume of 473,668. The firm has a market capitalization of $4.10 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 0.70 and a beta of 0.61. Concentrix has a 1-year low of $53.89 and a 1-year 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 firm’s fifty day moving average price is $68.58 and its 200 day moving average price is $63.91.

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

Insider Activity

In related news, EVP Cormac J. Twomey sold 400 shares of the business’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 completion of the transaction, the executive vice president now directly owns 29,727 shares in the company, valued at approximately $1,998,546.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders sold 1,200 shares of company stock valued at $82,028 over the last three months. Insiders own 3.00% of the company’s stock.

Institutional Investors Weigh In On Concentrix

Several large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in shares of Concentrix during the second quarter valued at $1,445,000. Vanguard Group Inc. boosted its stake in Concentrix by 23.9% during the 4th quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock worth $526,788,000 after purchasing an additional 1,034,546 shares during the last quarter. Natixis purchased a new stake in shares of Concentrix in the first quarter valued at approximately $542,000. Tweedy Browne Co LLC increased its position in Concentrix by 21.6% during the first quarter. Tweedy Browne Co LLC now owns 173,338 shares of the company’s stock worth $11,478,000 after purchasing an additional 30,798 shares during the last quarter. Finally, Groupe Bruxelles Lambert acquired a new stake in Concentrix during the fourth quarter worth $861,662,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.