Concentrix (NASDAQ:CNXC) Research Coverage Started at Robert W. Baird

Analysts at Robert W. Baird started coverage on shares of Concentrix (NASDAQ:CNXC) in a note issued to investors on Thursday, MarketBeat reports. The firm set an “outperform” rating and a $70.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 35.40% from the company’s previous close.

Several other analysts have also issued reports on the stock. Bank of America reduced their price objective on Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. Canaccord Genuity Group dropped their target price on Concentrix from $125.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, September 26th. Finally, Barrington Research decreased their price target on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $79.00.

Concentrix Stock Performance

NASDAQ:CNXC opened at $51.70 on Thursday. The stock has a market cap of $3.38 billion, a P/E ratio of 11.97, a PEG ratio of 0.55 and a beta of 0.61. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. The business’s 50-day moving average price is $66.40 and its two-hundred day moving average price is $63.36. Concentrix has a twelve month low of $50.23 and a twelve month high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Wednesday, September 25th. The company reported $2.87 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.93 by ($0.06). Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The company had revenue of $2.39 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the firm posted $2.54 earnings per share. The firm’s revenue was up 46.2% on a year-over-year basis. As a group, equities analysts predict that Concentrix will post 10.18 EPS for the current fiscal year.

Insider Activity

In related news, EVP Cormac J. Twomey sold 1,544 shares of the company’s stock in a transaction on Monday, September 30th. The stock was sold at an average price of $51.38, for a total transaction of $79,330.72. Following the completion of the sale, the executive vice president now owns 27,783 shares in the company, valued at $1,427,490.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the transaction, the executive vice president now owns 29,327 shares in the company, valued at approximately $2,188,674.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cormac J. Twomey sold 1,544 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $51.38, for a total transaction of $79,330.72. Following the completion of the transaction, the executive vice president now directly owns 27,783 shares in the company, valued at approximately $1,427,490.54. The disclosure for this sale can be found here. Insiders have sold 2,344 shares of company stock valued at $136,075 in the last ninety days. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Concentrix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNXC. Treasurer of the State of North Carolina increased its stake in shares of Concentrix by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 19,466 shares of the company’s stock worth $1,912,000 after purchasing an additional 190 shares in the last quarter. State of Michigan Retirement System increased its position in Concentrix by 1.8% in the first quarter. State of Michigan Retirement System now owns 11,591 shares of the company’s stock worth $768,000 after buying an additional 200 shares in the last quarter. SummerHaven Investment Management LLC increased its position in Concentrix by 2.9% in the second quarter. SummerHaven Investment Management LLC now owns 8,662 shares of the company’s stock worth $548,000 after buying an additional 248 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of Concentrix by 54.0% in the second quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after buying an additional 285 shares during the period. Finally, nVerses Capital LLC lifted its position in shares of Concentrix by 10.7% during the 2nd quarter. nVerses Capital LLC now owns 3,100 shares of the company’s stock valued at $196,000 after buying an additional 300 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other 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.