Concentrix (NASDAQ:CNXC) Stock Rating Reaffirmed by Canaccord Genuity Group

Concentrix (NASDAQ:CNXC)‘s stock had its “buy” rating reiterated by stock analysts at Canaccord Genuity Group in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $125.00 price target on the stock. Canaccord Genuity Group’s price target indicates a potential upside of 97.53% from the stock’s previous close.

Several other research firms have also issued reports on CNXC. Scotiabank reduced their target price on shares of Concentrix from $120.00 to $85.00 and set a “sector outperform” rating for the company in a research note on Monday, April 29th. Bank of America restated an “underperform” rating and set a $60.00 price target (down previously from $85.00) on shares of Concentrix in a research report on Wednesday, March 27th. Finally, Barrington Research restated an “outperform” rating and set a $84.00 price target on shares of Concentrix in a research report on Friday, June 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $84.80.

Concentrix Stock Performance

NASDAQ CNXC opened at $63.28 on Thursday. Concentrix has a 1 year low of $53.89 and a 1 year high of $106.10. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.68 and a beta of 0.60. The company has a fifty day moving average price of $60.39 and a 200-day moving average price of $73.33.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, March 26th. The company reported $2.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.36 by ($0.03). Concentrix had a return on equity of 17.42% and a net margin of 3.08%. The firm had revenue of $2.40 billion during the quarter, compared to the consensus estimate of $2.38 billion. As a group, equities research analysts predict that Concentrix will post 11.03 EPS for the current fiscal year.

Insiders Place Their Bets

In other Concentrix news, CEO Christopher A. Caldwell bought 900 shares of the business’s stock in a transaction on Friday, April 19th. The stock was purchased at an average price of $54.59 per share, for a total transaction of $49,131.00. Following the completion of the transaction, the chief executive officer now directly owns 239,128 shares of the company’s stock, valued at $13,053,997.52. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders acquired 1,679 shares of company stock worth $98,546 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Concentrix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Citigroup Inc. lifted its holdings in shares of Concentrix by 51.9% in the third quarter. Citigroup Inc. now owns 9,192 shares of the company’s stock worth $736,000 after buying an additional 3,139 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in shares of Concentrix by 6.4% in the third quarter. PNC Financial Services Group Inc. now owns 3,318 shares of the company’s stock worth $266,000 after buying an additional 199 shares in the last quarter. Mariner LLC lifted its holdings in shares of Concentrix by 211.5% in the third quarter. Mariner LLC now owns 19,182 shares of the company’s stock worth $1,537,000 after buying an additional 13,024 shares in the last quarter. Natixis Advisors L.P. lifted its holdings in shares of Concentrix by 45.7% in the third quarter. Natixis Advisors L.P. now owns 37,196 shares of the company’s stock worth $2,979,000 after buying an additional 11,666 shares in the last quarter. Finally, Trexquant Investment LP lifted its holdings in shares of Concentrix by 33.9% in the third quarter. Trexquant Investment LP now owns 23,557 shares of the company’s stock worth $1,887,000 after buying an additional 5,967 shares in 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.