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

Key Points

• Barrington Research reiterated an "outperform" rating on Concentrix and set a $38 price target, implying about 51.6% upside from the current share price.
• Analyst sentiment on CNXC is mixed overall: other firms have recently cut targets or ratings, and MarketBeat shows an average rating of "Hold" with an average price target of $48.50.
• Concentrix recently reported quarterly EPS of $2.61, slightly below estimates, while revenue of $2.50 billion came in marginally above expectations and was up 5.4% year over year.

Concentrix (NASDAQ:CNXC - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Barrington Research in a research note issued to investors on Monday,Benzinga reports. They currently have a $38.00 price target on the stock. Barrington Research's price target would indicate a potential upside of 51.55% from the stock's current price.

Several other analysts have also commented on CNXC. Canaccord Genuity Group reduced their price target on shares of Concentrix from $80.00 to $55.00 and set a "buy" rating on the stock in a research report on Wednesday, March 25th. Robert W. Baird lowered their price objective on Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Weiss Ratings reiterated a "sell (d)" rating on shares of Concentrix in a research report on Monday, April 27th. Finally, Wall Street Zen cut Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $48.50.

Concentrix Stock Down 0.0%

NASDAQ CNXC opened at $25.07 on Monday. Concentrix has a 52 week low of $22.05 and a 52 week high of $62.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. The business's fifty day simple moving average is $26.32 and its 200-day simple moving average is $32.63. The firm has a market cap of $1.53 billion, a PE ratio of -1.16, a P/E/G ratio of 0.31 and a beta of 0.43.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.49 billion. During the same period in the previous year, the firm posted $2.79 EPS. The company's revenue was up 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Concentrix will post 10.42 earnings per share for the current year.

Insider Transactions at Concentrix

In related news, CFO Andre S. Valentine acquired 2,500 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average price of $27.95 per share, with a total value of $69,875.00. Following the transaction, the chief financial officer owned 89,066 shares of the company's stock, valued at approximately $2,489,394.70. This trade represents a 2.89% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the transaction, the insider directly owned 2,773,667 shares of the company's stock, valued at $61,714,090.75. The trade was a 68.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Concentrix by 9.5% in the 1st quarter. Royal Bank of Canada now owns 47,501 shares of the company's stock valued at $2,643,000 after buying an additional 4,133 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Concentrix by 75.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company's stock valued at $23,552,000 after acquiring an additional 181,546 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Concentrix by 17.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company's stock valued at $8,152,000 after acquiring an additional 21,746 shares in the last quarter. Focus Partners Wealth acquired a new position in Concentrix in the 1st quarter valued at about $781,000. Finally, Geneos Wealth Management Inc. increased its stake in Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after purchasing an additional 522 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Company Profile

Concentrix Inc NASDAQ: CNXC is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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