Concentrix Co. (NASDAQ:CNXC) Shares Acquired by First Hawaiian Bank

First Hawaiian Bank lifted its stake in shares of Concentrix Co. (NASDAQ:CNXC) by 51.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,619 shares of the company’s stock after buying an additional 4,619 shares during the quarter. First Hawaiian Bank’s holdings in Concentrix were worth $589,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Nordea Investment Management AB grew its position in shares of Concentrix by 43.9% during the fourth quarter. Nordea Investment Management AB now owns 70,654 shares of the company’s stock worth $3,076,000 after buying an additional 21,568 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Concentrix during the third quarter worth approximately $445,000. Neo Ivy Capital Management acquired a new stake in shares of Concentrix during the third quarter worth approximately $2,844,000. Geode Capital Management LLC grew its position in shares of Concentrix by 5.2% during the third quarter. Geode Capital Management LLC now owns 878,092 shares of the company’s stock worth $45,013,000 after buying an additional 43,295 shares in the last quarter. Finally, Barclays PLC grew its position in shares of Concentrix by 134.3% during the third quarter. Barclays PLC now owns 35,862 shares of the company’s stock worth $1,837,000 after buying an additional 20,559 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Performance

CNXC stock opened at $45.75 on Friday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market capitalization of $2.97 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 0.56 and a beta of 0.63. Concentrix Co. has a 1 year low of $36.28 and a 1 year high of $106.10. The stock’s fifty day moving average is $43.05 and its two-hundred day moving average is $55.31.

Analysts Set New Price Targets

Several brokerages recently issued reports on CNXC. Baird R W upgraded Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. 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. Barrington Research reduced their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird began coverage on Concentrix in a research note on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price objective on the stock. Finally, Canaccord Genuity Group reduced their price objective on Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $79.00.

Concentrix 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.