Barrington Research Lowers Concentrix (NASDAQ:CNXC) Price Target to $54.00

Concentrix (NASDAQ:CNXC) had its target price decreased by equities researchers at Barrington Research from $70.00 to $54.00 in a note issued to investors on Monday, Marketbeat.com reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target would indicate a potential upside of 18.21% from the company’s previous close.

Separately, Canaccord Genuity Group cut their target price on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, January 16th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Concentrix has a consensus rating of “Buy” and a consensus price target of $71.80.

Concentrix Stock Performance

NASDAQ:CNXC opened at $45.68 on Monday. 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 $2.94 billion, a P/E ratio of 12.31, a P/E/G ratio of 0.63 and a beta of 0.69. Concentrix has a 1 year low of $36.28 and a 1 year high of $77.00. The business has a fifty day simple moving average of $47.58 and a two-hundred day simple moving average of $47.73.

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

Insider Buying and Selling at Concentrix

In other Concentrix news, Director Kathryn Hayley acquired 500 shares of the stock in a transaction dated Wednesday, January 22nd. The shares were acquired at an average cost of $50.22 per share, for a total transaction of $25,110.00. Following the completion of the transaction, the director now directly owns 3,034 shares of the company’s stock, valued at approximately $152,367.48. The trade was a 19.73 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Concentrix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNXC. Steward Partners Investment Advisory LLC boosted its position in shares of Concentrix by 81.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company’s stock valued at $28,000 after acquiring an additional 286 shares during the last quarter. Rhumbline Advisers raised its stake in Concentrix by 0.3% during the fourth quarter. Rhumbline Advisers now owns 128,617 shares of the company’s stock valued at $5,565,000 after purchasing an additional 324 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in Concentrix by 58.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company’s stock valued at $52,000 after purchasing an additional 444 shares during the last quarter. Xponance Inc. grew its stake in shares of Concentrix by 8.9% in the 4th quarter. Xponance Inc. now owns 5,540 shares of the company’s stock worth $240,000 after buying an additional 455 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company’s stock valued at $34,000 after buying an additional 490 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

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.