Concentrix Co. (NASDAQ:CNXC) Receives Average Recommendation of “Buy” from Brokerages

Concentrix Co. (NASDAQ:CNXC) has been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $79.00.

A number of analysts have recently commented on the stock. Baird R W upgraded shares of Concentrix to a “strong-buy” rating in a research note on Thursday, October 3rd. Bank of America reduced their price target on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a research note 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 for the company in a research note on Thursday. Robert W. Baird assumed coverage on shares of Concentrix in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price target for the company. Finally, Barrington Research reduced their price target on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, September 26th.

Institutional Trading of Concentrix

Several large investors have recently added to or reduced their stakes in CNXC. GAMMA Investing LLC grew its position in Concentrix by 64.9% during the third quarter. GAMMA Investing LLC now owns 729 shares of the company’s stock valued at $37,000 after buying an additional 287 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in Concentrix during the second quarter valued at approximately $68,000. Quarry LP lifted its holdings in Concentrix by 769.9% during the second quarter. Quarry LP now owns 1,244 shares of the company’s stock valued at $79,000 after purchasing an additional 1,101 shares in the last quarter. Quest Partners LLC purchased a new position in Concentrix during the third quarter valued at approximately $146,000. Finally, Blue Trust Inc. lifted its holdings in Concentrix by 62.4% during the third quarter. Blue Trust Inc. now owns 3,132 shares of the company’s stock valued at $161,000 after purchasing an additional 1,204 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors.

Concentrix Stock Down 1.5 %

NASDAQ:CNXC traded down $0.71 on Thursday, reaching $46.76. 517,534 shares of the stock traded hands, compared to its average volume of 712,491. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.60 and a beta of 0.63. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.18. Concentrix has a 12 month low of $36.28 and a 12 month high of $106.10. The company’s fifty day simple moving average is $43.25 and its 200 day simple moving average is $55.04.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, beating analysts’ consensus estimates of $3.01 by $0.25. The business had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.44 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. Concentrix’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the business earned $3.36 EPS. Equities analysts predict 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.