Barrington Research Reaffirms “Outperform” Rating for Concentrix (NASDAQ:CNXC)

Concentrix (NASDAQ:CNXC)‘s stock had its “outperform” rating reiterated by stock analysts at Barrington Research in a research report issued on Monday,Benzinga reports. They currently have a $62.00 price objective on the stock. Barrington Research’s target price suggests a potential upside of 40.72% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Weiss Ratings upgraded shares of Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 target price on shares of Concentrix in a research report on Tuesday, September 23rd. Robert W. Baird lowered their price target on Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, September 29th. Finally, Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Concentrix has a consensus rating of “Moderate Buy” and a consensus price target of $66.25.

Concentrix Stock Performance

Shares of CNXC opened at $44.06 on Monday. The firm has a market capitalization of $2.74 billion, a PE ratio of 9.32, a P/E/G ratio of 0.59 and a beta of 0.48. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. The firm has a 50-day moving average price of $38.41 and a 200 day moving average price of $46.88. Concentrix has a 52-week low of $31.63 and a 52-week high of $66.00.

Insider Activity at Concentrix

In related news, CEO Christopher A. Caldwell acquired 1,000 shares of the business’s stock in a transaction dated Friday, October 31st. The stock was bought at an average price of $40.00 per share, for a total transaction of $40,000.00. Following the transaction, the chief executive officer owned 287,661 shares of the company’s stock, valued at approximately $11,506,440. The trade was a 0.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On Concentrix

A number of institutional investors and hedge funds have recently modified their holdings of CNXC. AQR Capital Management LLC lifted its position in Concentrix by 25.5% in the 2nd quarter. AQR Capital Management LLC now owns 4,305,469 shares of the company’s stock worth $226,252,000 after buying an additional 875,556 shares in the last quarter. Deprince Race & Zollo Inc. acquired a new position in shares of Concentrix in the third quarter worth $31,768,000. Norges Bank purchased a new stake in shares of Concentrix during the second quarter worth $23,318,000. Arrowstreet Capital Limited Partnership boosted its position in Concentrix by 247.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 535,843 shares of the company’s stock valued at $28,322,000 after purchasing an additional 381,497 shares during the last quarter. Finally, Capital Management Corp VA purchased a new position in Concentrix in the second quarter valued at about $17,230,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Company Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.