Concentrix Co. (NASDAQ:CNXC) Receives Consensus Rating of “Hold” from Analysts

Shares of Concentrix Co. (NASDAQ:CNXC) have received an average recommendation of “Hold” from the five brokerages that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $84.80.

A number of equities research analysts have issued reports on CNXC shares. Barrington Research reissued an “outperform” rating and issued a $84.00 price target on shares of Concentrix in a report on Friday, June 21st. Scotiabank dropped their price objective on Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Canaccord Genuity Group reissued a “buy” rating and set a $125.00 target price on shares of Concentrix in a research note on Thursday. Finally, Bank of America restated an “underperform” rating and set a $60.00 target price (down previously from $85.00) on shares of Concentrix in a report on Wednesday, March 27th.

Concentrix Price Performance

Shares of NASDAQ:CNXC traded up $5.46 during trading on Thursday, reaching $63.48. The company had a trading volume of 287,468 shares, compared to its average volume of 505,340. The company has a fifty day moving average of $60.07 and a two-hundred day moving average of $73.62. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.23. The stock has a market capitalization of $4.19 billion, a P/E ratio of 13.10, a price-to-earnings-growth ratio of 0.69 and a beta of 0.60. Concentrix has a 12 month low of $53.89 and a 12 month high of $106.10.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Tuesday, March 26th. The company reported $2.33 EPS for the quarter, missing the consensus estimate of $2.36 by ($0.03). The firm had revenue of $2.40 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a net margin of 3.53% and a return on equity of 17.70%. Equities research analysts forecast that Concentrix will post 11.03 earnings per share for the current year.

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell bought 900 shares of the company’s stock in a transaction dated Friday, April 19th. The stock was purchased at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the acquisition, the chief executive officer now owns 239,128 shares in the company, valued at $13,053,997.52. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have acquired a total of 1,679 shares of company stock valued at $98,546 over the last 90 days. 3.00% of the stock is owned by corporate insiders.

Institutional Trading of Concentrix

Several institutional investors and hedge funds have recently modified their holdings of CNXC. Groupe Bruxelles Lambert purchased a new stake in shares of Concentrix in the fourth quarter worth about $861,662,000. Vanguard Group Inc. boosted its position in Concentrix by 23.9% during the fourth quarter. Vanguard Group Inc. now owns 5,363,893 shares of the company’s stock worth $526,788,000 after purchasing an additional 1,034,546 shares in the last quarter. Pzena Investment Management LLC grew its holdings in Concentrix by 246.3% in the first quarter. Pzena Investment Management LLC now owns 1,013,208 shares of the company’s stock valued at $67,095,000 after purchasing an additional 720,616 shares during the period. AQR Capital Management LLC increased its position in shares of Concentrix by 161.3% in the third quarter. AQR Capital Management LLC now owns 794,300 shares of the company’s stock valued at $63,488,000 after buying an additional 490,361 shares in the last quarter. Finally, Impactive Capital LP lifted its position in shares of Concentrix by 13.0% during the 1st quarter. Impactive Capital LP now owns 3,846,370 shares of the company’s stock valued at $254,707,000 after buying an additional 443,045 shares in the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Company 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.