Barrington Research Reiterates “Outperform” Rating for Concentrix (NASDAQ:CNXC)

Concentrix (NASDAQ:CNXC)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a research report issued on Thursday,Benzinga reports. They currently have a $62.00 price target on the stock. Barrington Research’s price objective points to a potential upside of 81.38% from the stock’s current price.

A number of other analysts have also weighed in on the stock. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 target price on shares of Concentrix in a report on Tuesday, September 23rd. Robert W. Baird cut their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. Weiss Ratings upgraded shares of Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of Concentrix from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Concentrix presently has an average rating of “Moderate Buy” and an average price target of $66.25.

Concentrix Trading Up 3.9%

CNXC stock traded up $1.27 during midday trading on Thursday, hitting $34.18. The company had a trading volume of 187,511 shares, compared to its average volume of 823,906. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 7.18, a PEG ratio of 0.47 and a beta of 0.49. Concentrix has a 52 week low of $31.63 and a 52 week high of $66.00. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.10. The stock’s 50 day moving average price is $45.29 and its 200 day moving average price is $50.94.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Thursday, September 25th. The company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.10). The firm had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Concentrix had a return on equity of 16.02% and a net margin of 3.25%.The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.87 earnings per share. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS. Q4 2025 guidance at 2.850-2.960 EPS. As a group, equities research analysts expect that Concentrix will post 10.11 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Christopher A. Caldwell acquired 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was bought at an average price of $42.03 per share, with a total value of $84,060.00. Following the completion of the acquisition, the chief executive officer directly owned 286,661 shares of the company’s stock, valued at approximately $12,048,361.83. The trade was a 0.70% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders acquired 4,000 shares of company stock valued at $169,410. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Concentrix

A number of institutional investors and hedge funds have recently made changes to their positions in CNXC. Huntington National Bank increased its stake in shares of Concentrix by 6,011.1% in the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock worth $25,000 after purchasing an additional 541 shares in the last quarter. Quent Capital LLC purchased a new stake in Concentrix in the third quarter worth about $29,000. Larson Financial Group LLC increased its position in Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after buying an additional 479 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after buying an additional 522 shares during the period. Finally, Rothschild Investment LLC grew its stake in shares of Concentrix by 14,980.0% during the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock valued at $35,000 after acquiring an additional 749 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.