Concentrix (NASDAQ:CNXC) Given New $65.00 Price Target at Bank of America

Concentrix (NASDAQ:CNXC - Get Free Report) had its price target hoisted by investment analysts at Bank of America from $59.00 to $65.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Bank of America's price objective would indicate a potential upside of 13.74% from the stock's current price.

Separately, Barrington Research lowered their price target on Concentrix from $70.00 to $54.00 and set an "outperform" rating on the stock in a report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Concentrix currently has a consensus rating of "Buy" and a consensus target price of $67.25.

Concentrix Stock Performance

Shares of CNXC stock traded down $0.17 during trading hours on Monday, hitting $57.15. The stock had a trading volume of 753,610 shares, compared to its average volume of 716,548. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $3.65 billion, a PE ratio of 15.40, a PEG ratio of 0.63 and a beta of 0.56. The stock's 50 day moving average is $52.35 and its 200 day moving average is $48.71. Concentrix has a twelve month low of $36.28 and a twelve month high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 EPS for the quarter, beating the consensus estimate of $2.58 by $0.21. Concentrix had a net margin of 2.61% and a return on equity of 16.67%. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the firm earned $2.57 EPS. Concentrix's revenue for the quarter was down 1.3% on a year-over-year basis. As a group, research analysts forecast that Concentrix will post 10.11 earnings per share for the current fiscal year.

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Monday, March 31st. The stock was sold at an average price of $55.31, for a total value of $27,655.00. Following the sale, the executive vice president now owns 39,130 shares of the company's stock, valued at approximately $2,164,280.30. The trade was a 1.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Olivier Duha sold 29,444 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total value of $1,428,622.88. Following the transaction, the director now directly owns 1,155,862 shares of the company's stock, valued at approximately $56,082,424.24. This trade represents a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,944 shares of company stock worth $1,510,158 in the last three months. Insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in shares of Concentrix during the 4th quarter worth $294,000. Raymond James Financial Inc. acquired a new stake in shares of Concentrix in the fourth quarter valued at about $4,752,000. American Century Companies Inc. acquired a new stake in shares of Concentrix in the fourth quarter valued at about $539,000. Y Intercept Hong Kong Ltd purchased a new stake in Concentrix during the fourth quarter worth about $294,000. Finally, Bleakley Financial Group LLC acquired a new position in Concentrix during the fourth quarter worth about $276,000. Institutional investors and hedge funds 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.