Concentrix's (CNXC) Outperform Rating Reaffirmed at Barrington Research

Concentrix (NASDAQ:CNXC - Get Free Report)'s stock had its "outperform" rating reiterated by analysts at Barrington Research in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $54.00 price objective on the stock. Barrington Research's price target would suggest a potential downside of 0.15% from the company's previous close.

Other research analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday. Bank of America raised their price target on Concentrix from $59.00 to $65.00 and gave the stock a "neutral" rating in a report on Monday, June 9th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $67.25.

Concentrix Stock Performance

NASDAQ CNXC traded up $2.31 on Tuesday, hitting $54.08. 835,252 shares of the stock traded hands, compared to its average volume of 813,723. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.65 and a current ratio of 1.65. The business's fifty day moving average is $53.36 and its two-hundred day moving average is $49.30. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The firm has a market capitalization of $3.45 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 0.65 and a beta of 0.56.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, topping the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.37 billion. Concentrix had a return on equity of 16.73% and a net margin of 2.81%. The firm's revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm posted $2.57 EPS. As a group, equities analysts anticipate that Concentrix will post 10.11 EPS for the current fiscal year.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 39,130 shares in the company, valued at $2,164,280.30. This trade represents a 1.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Olivier Duha sold 29,444 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $48.52, for a total transaction 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 approximately $56,082,424.24. The trade was a 2.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,944 shares of company stock valued at $1,510,158. Insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On Concentrix

Several institutional investors and hedge funds have recently made changes to their positions in the business. Geneos Wealth Management Inc. boosted its position in Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock valued at $34,000 after buying an additional 522 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Concentrix by 81.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after acquiring an additional 286 shares during the last quarter. UMB Bank n.a. boosted its holdings in Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares during the period. Venturi Wealth Management LLC boosted its holdings in Concentrix by 159.6% during the 4th quarter. Venturi Wealth Management LLC now owns 797 shares of the company's stock valued at $34,000 after acquiring an additional 490 shares during the period. Finally, First Horizon Advisors Inc. grew its position in Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after acquiring an additional 444 shares during the last quarter. Institutional investors own 90.34% of the company's stock.

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.