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

Concentrix (NASDAQ:CNXC)‘s stock had its “outperform” rating reaffirmed by Barrington Research in a report released on Friday, Benzinga reports. They presently have a $84.00 price objective on the stock. Barrington Research’s target price points to a potential upside of 38.48% from the company’s previous close.

Several other equities research analysts have also recently issued reports on CNXC. Scotiabank dropped their target price on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating on the stock in a report on Monday, April 29th. Bank of America restated an “underperform” rating and issued a $60.00 price target (down from $85.00) on shares of Concentrix in a research note on Wednesday, March 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $74.75.

Concentrix Trading Up 0.3 %

CNXC stock opened at $60.66 on Friday. The company has a market capitalization of $4.00 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 0.71 and a beta of 0.60. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.56 and a current ratio of 1.56. Concentrix has a one year low of $53.89 and a one year high of $106.10. The company’s 50 day moving average price is $59.93 and its two-hundred day moving average price is $74.52.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.03). Concentrix had a return on equity of 17.70% and a net margin of 3.53%. The business had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. As a group, analysts predict that Concentrix will post 11.03 earnings per share for the current fiscal year.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell bought 900 shares of the company’s stock in a transaction on Friday, April 19th. The stock was bought at an average cost of $54.59 per share, with a total value of $49,131.00. Following the transaction, the chief executive officer now directly owns 239,128 shares in the company, valued at approximately $13,053,997.52. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Over the last quarter, insiders bought 1,679 shares of company stock valued at $98,546. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CNXC. Boston Partners increased its position in Concentrix by 4.1% during the first quarter. Boston Partners now owns 365,515 shares of the company’s stock worth $23,783,000 after buying an additional 14,289 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in shares of Concentrix during the first quarter valued at $658,000. Impactive Capital LP increased its position in Concentrix by 13.0% during the 1st quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock worth $254,707,000 after purchasing an additional 443,045 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Concentrix by 4.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,796 shares of the company’s stock valued at $1,908,000 after purchasing an additional 1,353 shares during the last quarter. Finally, Capital International Sarl lifted its holdings in Concentrix by 7.3% in the 1st quarter. Capital International Sarl now owns 17,236 shares of the company’s stock valued at $1,141,000 after purchasing an additional 1,180 shares in the last quarter. 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.