Baird R W Upgrades Concentrix (NASDAQ:CNXC) to Strong-Buy

Concentrix (NASDAQ:CNXC) was upgraded by stock analysts at Baird R W to a “strong-buy” rating in a research note issued on Thursday, Zacks.com reports.

A number of other brokerages have also recently commented on CNXC. Canaccord Genuity Group dropped their price target on shares of Concentrix from $125.00 to $100.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th. Robert W. Baird assumed coverage on shares of Concentrix in a research note on Thursday. They issued an “outperform” rating and a $70.00 target price on the stock. Barrington Research lowered their target price on shares of Concentrix from $84.00 to $70.00 and set an “outperform” rating on the stock in a research note on Thursday, September 26th. Finally, Bank of America lowered their target price on shares of Concentrix from $85.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, September 26th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $79.00.

Concentrix Stock Down 0.1 %

Concentrix stock opened at $52.58 on Thursday. Concentrix has a twelve month low of $50.23 and a twelve month high of $106.10. The firm has a 50 day moving average price of $66.12 and a 200-day moving average price of $63.28. The company has a market capitalization of $3.43 billion, a P/E ratio of 12.17, a P/E/G ratio of 0.55 and a beta of 0.58. The company has a quick ratio of 1.56, a current ratio of 1.57 and a debt-to-equity ratio of 1.18.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Wednesday, September 25th. The company reported $2.87 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.06). The business had revenue of $2.39 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a net margin of 2.18% and a return on equity of 16.57%. The business’s quarterly revenue was up 46.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. As a group, equities analysts predict that Concentrix will post 10.18 EPS for the current year.

Insider Activity

In other news, CEO Christopher A. Caldwell sold 9,823 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares in the company, valued at approximately $12,745,020.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Christopher A. Caldwell sold 9,823 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $52.70, for a total transaction of $517,672.10. Following the transaction, the chief executive officer now owns 241,841 shares of the company’s stock, valued at approximately $12,745,020.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cormac J. Twomey sold 400 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $74.63, for a total transaction of $29,852.00. Following the transaction, the executive vice president now directly owns 29,327 shares in the company, valued at approximately $2,188,674.01. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,167 shares of company stock worth $653,747. 3.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Concentrix

Large investors have recently added to or reduced their stakes in the company. Pineridge Advisors LLC bought a new stake in Concentrix in the 4th quarter worth $35,000. Hexagon Capital Partners LLC grew its holdings in Concentrix by 2,992.3% in the 2nd quarter. Hexagon Capital Partners LLC now owns 402 shares of the company’s stock worth $25,000 after acquiring an additional 389 shares during the last quarter. GAMMA Investing LLC grew its holdings in Concentrix by 1,005.0% in the 2nd quarter. GAMMA Investing LLC now owns 442 shares of the company’s stock worth $28,000 after acquiring an additional 402 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Concentrix by 54.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 813 shares of the company’s stock worth $51,000 after acquiring an additional 285 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Concentrix in the 2nd quarter worth $68,000. Institutional investors own 90.34% of the company’s stock.

About Concentrix

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.