Analysts Set Concentrix Corporation (NASDAQ:CNXC) PT at $66.25

Concentrix Corporation (NASDAQ:CNXC) has been assigned an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $66.25.

A number of research firms recently weighed in on CNXC. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a research note on Tuesday, September 23rd. Barrington Research restated an “outperform” rating and set a $62.00 target price on shares of Concentrix in a research report on Thursday, November 20th. Robert W. Baird reduced their price target on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Weiss Ratings upgraded Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Finally, Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a report on Saturday, October 25th.

Insider Activity

In other news, CEO Christopher A. Caldwell acquired 1,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $40.00 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the chief executive officer owned 287,661 shares of the company’s stock, valued at $11,506,440. The trade was a 0.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 3.20% of the company’s stock.

Institutional Trading of Concentrix

Several institutional investors and hedge funds have recently bought and sold shares of CNXC. Osaic Holdings Inc. grew its position in shares of Concentrix by 13.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock valued at $118,000 after purchasing an additional 263 shares in the last quarter. Earned Wealth Advisors LLC raised its position in shares of Concentrix by 6.4% in the second quarter. Earned Wealth Advisors LLC now owns 4,488 shares of the company’s stock worth $237,000 after buying an additional 269 shares in the last quarter. True Wealth Design LLC boosted its stake in Concentrix by 39.3% during the second quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock valued at $61,000 after buying an additional 328 shares during the period. Clearstead Advisors LLC grew its position in Concentrix by 26.4% during the third quarter. Clearstead Advisors LLC now owns 1,650 shares of the company’s stock worth $76,000 after buying an additional 345 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Concentrix by 23.9% during the second quarter. Parkside Financial Bank & Trust now owns 1,818 shares of the company’s stock worth $96,000 after buying an additional 351 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Concentrix Price Performance

CNXC opened at $44.06 on Wednesday. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 9.32, a PEG ratio of 0.59 and a beta of 0.48. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $38.41 and a 200-day moving average price of $46.98. Concentrix has a twelve month low of $31.63 and a twelve month high of $66.00.

Concentrix Company Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.