Concentrix Co. (NASDAQ:CNXC) Given Average Rating of “Hold” by Brokerages

Shares of Concentrix Co. (NASDAQ:CNXC) have earned an average rating of “Hold” from the five ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $84.80.

Several analysts have commented on CNXC shares. Scotiabank lowered their price objective on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a report on Monday, April 29th. Barrington Research reaffirmed an “outperform” rating and issued a $84.00 price target on shares of Concentrix in a research note on Friday, June 21st. 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. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $125.00 price target on shares of Concentrix in a research note on Thursday.

Concentrix Trading Up 9.4 %

Shares of NASDAQ CNXC traded up $5.46 during trading hours on Thursday, hitting $63.48. The company’s stock had a trading volume of 287,468 shares, compared to its average volume of 505,340. The business has a 50-day simple moving average of $60.07 and a 200-day simple moving average of $73.62. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 13.10, a P/E/G ratio of 0.69 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 12 month low of $53.89 and a 12 month high of $106.10.

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

Insider Activity

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its stake in Concentrix by 78.3% during the 4th quarter. Russell Investments Group Ltd. now owns 102,454 shares of the company’s stock valued at $10,062,000 after buying an additional 44,979 shares during the last quarter. Phocas Financial Corp. purchased a new position in Concentrix in the fourth quarter worth about $3,604,000. Copeland Capital Management LLC bought a new stake in shares of Concentrix during the 4th quarter valued at about $40,339,000. Blue Trust Inc. increased its position in shares of Concentrix by 29.8% during the 4th quarter. Blue Trust Inc. now owns 1,151 shares of the company’s stock valued at $113,000 after purchasing an additional 264 shares during the last quarter. Finally, Valley Wealth Managers Inc. lifted its stake in shares of Concentrix by 113.2% in the 4th quarter. Valley Wealth Managers Inc. now owns 205,530 shares of the company’s stock worth $20,185,000 after purchasing an additional 109,129 shares during the period. 90.34% of the stock is owned by 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.