Robert W. Baird Increases Concentrix (NASDAQ:CNXC) Price Target to $75.00

Key Points

• Robert W. Baird has increased its target price for Concentrix (NASDAQ: CNXC) from $72 to $75, indicating a potential upside of 35.16% from the current price and maintaining an "outperform" rating.
• Other analysts have mixed opinions; while Canaccord Genuity maintains a "buy" rating with a target of $80, Bank of America lowered its target to $61 and downgraded its rating to "neutral."
• Concentrix reported earnings of $2.70 per share, missing expectations, while revenues increased by 1.5% year-over-year, highlighting ongoing challenges despite a positive forecast from some analysts.

Concentrix (NASDAQ:CNXC - Free Report) had its target price raised by Robert W. Baird from $72.00 to $75.00 in a research note released on Thursday, MarketBeat Ratings reports. They currently have an outperform rating on the stock.

Several other research firms have also commented on CNXC. Bank of America cut their price objective on Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a research report on Friday, June 27th. Barrington Research reissued an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a research report on Tuesday, June 24th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Canaccord Genuity Group restated a "buy" rating and set a $80.00 target price on shares of Concentrix in a report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Concentrix currently has an average rating of "Buy" and a consensus target price of $67.50.

Concentrix Stock Performance

CNXC traded down $1.42 during midday trading on Thursday, hitting $55.55. 306,288 shares of the company were exchanged, compared to its average volume of 782,703. The company's 50 day simple moving average is $52.77 and its 200 day simple moving average is $52.46. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14. Concentrix has a 1-year low of $36.28 and a 1-year high of $66.00. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 0.76 and a beta of 0.53.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period last year, the business earned $2.69 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. As a group, sell-side analysts predict that Concentrix will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were paid a dividend of $0.3328 per share. The ex-dividend date was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.4%. Concentrix's payout ratio is 36.54%.

Insider Activity

In related news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total value of $28,955.00. Following the transaction, the executive vice president directly owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Concentrix

A number of institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. grew its holdings 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 acquiring an additional 522 shares during the period. IFP Advisors Inc grew its stake in Concentrix by 473.8% during the 2nd quarter. IFP Advisors Inc now owns 700 shares of the company's stock worth $37,000 after purchasing an additional 578 shares in the last quarter. UMB Bank n.a. boosted its position in shares of Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after acquiring an additional 217 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Concentrix by 111.8% in the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after purchasing an additional 444 shares during the last quarter. Finally, True Wealth Design LLC lifted its holdings in shares of Concentrix by 39.3% in the 2nd quarter. True Wealth Design LLC now owns 1,163 shares of the company's stock valued at $61,000 after purchasing an additional 328 shares during the last quarter. 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.