Concentrix (NASDAQ:CNXC) PT Lowered to $84.00

Concentrix (NASDAQ:CNXC) had its target price cut by investment analysts at Barrington Research from $121.00 to $84.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Barrington Research’s price target points to a potential upside of 26.85% from the company’s current price.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $66.22 on Wednesday. Concentrix has a 1-year low of $59.23 and a 1-year high of $125.80. The firm has a market capitalization of $4.39 billion, a PE ratio of 11.48, a PEG ratio of 0.66 and a beta of 0.50. The business’s 50 day moving average is $77.73 and its 200-day moving average is $83.49. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.19.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Wednesday, January 24th. The company reported $3.07 earnings per share for the quarter, topping the consensus estimate of $2.92 by $0.15. Concentrix had a return on equity of 18.77% and a net margin of 3.53%. The company had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.20 billion. Sell-side analysts predict that Concentrix will post 11.26 earnings per share for the current year.

Institutional Trading of Concentrix

Several institutional investors have recently bought and sold shares of the stock. Huntington National Bank grew its position in Concentrix by 98.1% in the second quarter. Huntington National Bank now owns 315 shares of the company’s stock valued at $25,000 after acquiring an additional 156 shares during the period. Quarry LP bought a new stake in Concentrix in the first quarter valued at $26,000. First Horizon Advisors Inc. grew its position in Concentrix by 381.7% in the fourth quarter. First Horizon Advisors Inc. now owns 342 shares of the company’s stock valued at $34,000 after acquiring an additional 271 shares during the period. Pineridge Advisors LLC bought a new stake in Concentrix in the fourth quarter valued at $35,000. Finally, Parkside Financial Bank & Trust grew its position in Concentrix by 146.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 630 shares of the company’s stock valued at $62,000 after acquiring an additional 374 shares during the period. Institutional investors and hedge funds 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.