Concentrix (NASDAQ:CNXC) Earns "Outperform" Rating from Barrington Research

Concentrix (NASDAQ:CNXC - Get Free Report)'s stock had its "outperform" rating reissued by analysts at Barrington Research in a report released on Tuesday,Benzinga reports. They presently have a $54.00 price objective on the stock. Barrington Research's price objective indicates a potential upside of 4.25% from the stock's previous close.

A number of other analysts have also commented on CNXC. Bank of America lifted their target price on Concentrix from $59.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $66.75.

Concentrix Stock Down 6.0%

Shares of NASDAQ CNXC traded down $3.33 during trading on Tuesday, reaching $51.80. The company had a trading volume of 1,505,816 shares, compared to its average volume of 735,307. Concentrix has a 12-month low of $36.28 and a 12-month high of $77.00. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.22. The business's 50-day moving average is $53.78 and its 200 day moving average is $49.42. The stock has a market cap of $3.31 billion, a PE ratio of 13.00, a P/E/G ratio of 0.70 and a beta of 0.56.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.06). Concentrix had a return on equity of 16.73% and a net margin of 2.81%. The firm had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period last year, the firm posted $2.69 earnings per share. The firm's quarterly revenue was up 1.5% on a year-over-year basis. As a group, equities analysts forecast that Concentrix will post 10.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on Monday, March 31st. The shares were sold at an average price of $55.31, for a total transaction of $27,655.00. Following the completion of the sale, the executive vice president now owns 39,130 shares of the company's stock, valued at $2,164,280.30. The trade was a 1.26% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 1,155,862 shares of the company's stock, valued at $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 sold 30,944 shares of company stock valued at $1,510,158 over the last 90 days. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in CNXC. Rhumbline Advisers raised its stake in Concentrix by 0.3% during the 4th quarter. Rhumbline Advisers now owns 128,617 shares of the company's stock worth $5,565,000 after acquiring an additional 324 shares during the period. Sanctuary Advisors LLC purchased a new stake in Concentrix in the 4th quarter worth $497,000. Venturi Wealth Management LLC increased its stake in Concentrix by 159.6% in the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock worth $34,000 after buying an additional 490 shares in the last quarter. New York State Common Retirement Fund raised its holdings in Concentrix by 47.3% during the fourth quarter. New York State Common Retirement Fund now owns 144,557 shares of the company's stock valued at $6,255,000 after acquiring an additional 46,406 shares during the period. Finally, Y Intercept Hong Kong Ltd purchased a new position in shares of Concentrix in the fourth quarter valued at about $294,000. 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.