Concentrix Co. (NASDAQ:CNXC) Given Consensus Rating of “Buy” by Analysts

Shares of Concentrix Co. (NASDAQ:CNXC) have been assigned an average recommendation of “Buy” from the six brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $79.00.

CNXC has been the topic of several research analyst reports. Bank of America lowered their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, September 26th. Robert W. Baird initiated coverage on shares of Concentrix in a research report on Thursday, October 3rd. They set an “outperform” rating and a $70.00 price target on the stock. Barrington Research reduced their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, September 26th. Canaccord Genuity Group reduced their price target on shares of Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Baird R W raised shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd.

Institutional Trading of Concentrix

A number of institutional investors have recently modified their holdings of the business. 1832 Asset Management L.P. bought a new position in shares of Concentrix during the 2nd quarter valued at $62,738,000. Invenomic Capital Management LP grew its holdings in Concentrix by 354.3% in the 3rd quarter. Invenomic Capital Management LP now owns 472,243 shares of the company’s stock worth $24,202,000 after acquiring an additional 368,295 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in Concentrix by 126.4% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 623,542 shares of the company’s stock worth $39,458,000 after acquiring an additional 348,100 shares during the last quarter. AQR Capital Management LLC grew its holdings in Concentrix by 74.4% in the 2nd quarter. AQR Capital Management LLC now owns 813,864 shares of the company’s stock worth $51,160,000 after acquiring an additional 347,230 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Concentrix in the 2nd quarter worth about $6,852,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Concentrix Stock Down 1.5 %

NASDAQ:CNXC traded down $0.71 on Thursday, hitting $46.76. 517,534 shares of the company’s stock were exchanged, compared to its average volume of 712,491. The firm has a 50-day moving average price of $43.25 and a 200-day moving average price of $55.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. Concentrix has a 52 week low of $36.28 and a 52 week high of $106.10. The company has a market cap of $3.03 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Wednesday, January 15th. The company reported $3.26 EPS for the quarter, topping the consensus estimate of $3.01 by $0.25. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The firm had revenue of $2.45 billion for the quarter, compared to analysts’ expectations of $2.44 billion. During the same period in the previous year, the firm posted $3.36 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts expect that Concentrix will post 10.11 EPS for the current fiscal year.

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.