Concentrix (NASDAQ:CNXC) Earns Outperform Rating from Analysts at Robert W. Baird

Analysts at Robert W. Baird began coverage on shares of Concentrix (NASDAQ:CNXC) in a report released 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 indicates a potential upside of 33.13% from the company’s current price.

A number of other analysts have also recently weighed in on CNXC. Canaccord Genuity Group decreased their target price on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Bank of America lowered their target price on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Finally, Barrington Research dropped their target price on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research report on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Concentrix has an average rating of “Buy” and a consensus price target of $79.00.

Concentrix Price Performance

Shares of CNXC stock opened at $52.58 on Thursday. The business has a fifty day simple moving average of $66.12 and a 200 day simple moving average of $63.28. The company has a market cap of $3.43 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.55 and a beta of 0.58. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. Concentrix has a twelve month low of $50.23 and a twelve month high of $106.10.

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

Insider Buying and Selling

In other Concentrix 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 transaction of $29,852.00. Following the completion of the sale, the executive vice president now owns 29,327 shares of the company’s stock, valued at approximately $2,188,674.01. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Christopher A. Caldwell sold 9,823 shares of the business’s stock in a transaction dated Friday, October 4th. The stock was sold at an average price of $52.70, for a total value of $517,672.10. Following the transaction, the chief executive officer now directly owns 241,841 shares of the company’s stock, valued at $12,745,020.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Cormac J. Twomey sold 400 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $74.63, for a total value of $29,852.00. Following the sale, the executive vice president now owns 29,327 shares in the company, valued at approximately $2,188,674.01. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,167 shares of company stock valued at $653,747 over the last ninety days. 3.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On Concentrix

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC acquired a new stake in shares of Concentrix during the 2nd quarter worth approximately $1,445,000. Vanguard Group Inc. increased its stake in Concentrix by 23.9% in the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock valued at $526,788,000 after purchasing an additional 1,034,546 shares in the last quarter. Natixis acquired a new position in shares of Concentrix during the first quarter valued at about $542,000. Tweedy Browne Co LLC raised its holdings in shares of Concentrix by 21.6% during the first quarter. Tweedy Browne Co LLC now owns 173,338 shares of the company’s stock valued at $11,478,000 after purchasing an additional 30,798 shares during the period. Finally, Groupe Bruxelles Lambert bought a new position in shares of Concentrix during the 4th quarter worth about $861,662,000. 90.34% of the stock is owned by institutional investors and hedge funds.

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.