Robert W. Baird Raises Concentrix (NASDAQ:CNXC) Price Target to $72.00

Concentrix (NASDAQ:CNXC - Get Free Report) had its price target upped by equities researchers at Robert W. Baird from $62.00 to $72.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Robert W. Baird's price objective would suggest a potential upside of 32.91% from the company's current price.

A number of other research firms have also weighed in on CNXC. Bank of America lifted their target price on Concentrix from $59.00 to $65.00 and gave the company a "neutral" rating in a report on Monday, June 9th. Wall Street Zen cut shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Finally, Barrington Research restated an "outperform" rating and set a $54.00 price target on shares of Concentrix in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.75.

Concentrix Stock Up 0.2%

CNXC opened at $54.17 on Thursday. Concentrix has a 12 month low of $36.28 and a 12 month high of $77.00. The company has a market cap of $3.46 billion, a PE ratio of 13.58, a price-to-earnings-growth ratio of 0.70 and a beta of 0.56. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.22. The company has a 50 day moving average of $53.62 and a 200 day moving average of $49.36.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The company reported $2.79 earnings per share for the quarter, beating the consensus estimate of $2.58 by $0.21. The company had revenue of $2.37 billion during the quarter, compared to analysts' expectations of $2.37 billion. Concentrix had a return on equity of 16.73% and a net margin of 2.81%. The firm's quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.57 earnings per share. On average, sell-side analysts expect that Concentrix will post 10.11 EPS for the current year.

Insider Activity at Concentrix

In other Concentrix news, Director Olivier Duha sold 29,444 shares of the company's stock in a transaction dated Tuesday, April 15th. The shares were 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 directly owns 1,155,862 shares in the company, valued at $56,082,424.24. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Christopher A. Caldwell acquired 1,000 shares of Concentrix stock in a transaction dated Monday, April 21st. The shares were bought at an average cost of $46.00 per share, for a total transaction of $46,000.00. Following the completion of the purchase, the chief executive officer now directly owns 303,362 shares of the company's stock, valued at approximately $13,954,652. The trade was a 0.33% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 30,944 shares of company stock valued at $1,510,158. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Concentrix

Several institutional investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC lifted its position in Concentrix by 81.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 638 shares of the company's stock valued at $28,000 after purchasing an additional 286 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after buying an additional 522 shares during the period. UMB Bank n.a. raised 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 buying an additional 217 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after buying an additional 444 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in Concentrix by 58.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,201 shares of the company's stock worth $52,000 after acquiring an additional 444 shares during the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

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.

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