Concentrix (NASDAQ:CNXC) Earns “Outperform” Rating from Barrington Research

Concentrix (NASDAQ:CNXC)‘s stock had its “outperform” rating reiterated by analysts at Barrington Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $54.00 price target on the stock. Barrington Research’s price objective suggests a potential upside of 4.31% from the stock’s previous close.

Other analysts have also issued reports about the stock. Bank of America increased their price target on shares of Concentrix from $59.00 to $65.00 and gave the company a “neutral” rating in a research report on Monday, June 9th. Wall Street Zen downgraded shares of Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $67.25.

Concentrix Stock Up 3.2%

CNXC stock opened at $51.77 on Tuesday. The company’s 50 day simple moving average is $53.36 and its 200-day simple moving average is $49.30. The firm has a market capitalization of $3.31 billion, a PE ratio of 12.97, a P/E/G ratio of 0.65 and a beta of 0.56. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.65 and a quick ratio of 1.65.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.58 by $0.21. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a net margin of 2.81% and a return on equity of 16.73%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.57 earnings per share. Equities analysts expect that Concentrix will post 10.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Concentrix news, Director Olivier Duha sold 29,444 shares of the stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the transaction, the director now owns 1,155,862 shares of the company’s stock, valued at $56,082,424.24. This trade represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $57.06, for a total transaction of $28,530.00. Following the transaction, the executive vice president now directly owns 38,130 shares in the company, valued at approximately $2,175,697.80. This represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 30,944 shares of company stock valued at $1,510,158 over the last quarter. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Concentrix

Large investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets purchased a new position in Concentrix during the fourth quarter worth approximately $294,000. Raymond James Financial Inc. purchased a new position in shares of Concentrix in the 4th quarter valued at $4,752,000. Fifth Third Bancorp raised its stake in shares of Concentrix by 36.5% in the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company’s stock valued at $114,000 after acquiring an additional 548 shares during the period. American Century Companies Inc. purchased a new position in shares of Concentrix in the 4th quarter valued at $539,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Concentrix in the 4th quarter valued at $294,000. Hedge funds and other 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.