Analysts Set Concentrix Co. (NASDAQ:CNXC) PT at $79.00

Concentrix Co. (NASDAQ:CNXCGet Free Report) has earned a consensus rating of “Buy” from the six analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $75.00.

Several research analysts have issued reports on the company. Canaccord Genuity Group reduced their price objective on Concentrix from $100.00 to $80.00 and set a “buy” rating on the stock in a report on Thursday. Robert W. Baird started coverage on shares of Concentrix in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $70.00 price objective for the company. Baird R W upgraded Concentrix to a “strong-buy” rating in a report on Thursday, October 3rd. Bank of America lowered their target price on Concentrix from $85.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, September 26th. Finally, Barrington Research decreased their price objective on Concentrix from $84.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, September 26th.

Get Our Latest Research Report on CNXC

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Harbor Capital Advisors Inc. boosted its position in shares of Concentrix by 46.6% during the fourth quarter. Harbor Capital Advisors Inc. now owns 31,756 shares of the company’s stock worth $1,374,000 after acquiring an additional 10,089 shares during the last quarter. First Hawaiian Bank lifted its holdings in shares of Concentrix by 51.3% in the 4th quarter. First Hawaiian Bank now owns 13,619 shares of the company’s stock worth $589,000 after acquiring an additional 4,619 shares during the last quarter. Nordea Investment Management AB increased its stake in Concentrix by 43.9% in the 4th quarter. Nordea Investment Management AB now owns 70,654 shares of the company’s stock worth $3,076,000 after buying an additional 21,568 shares during the period. Franklin Resources Inc. purchased a new position in Concentrix in the 3rd quarter worth about $445,000. Finally, Neo Ivy Capital Management purchased a new position in Concentrix during the 3rd quarter valued at about $2,844,000. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Trading Up 0.4 %

Shares of NASDAQ:CNXC opened at $48.96 on Thursday. Concentrix has a 1 year low of $36.28 and a 1 year high of $106.10. The business’s 50 day moving average price is $43.61 and its 200-day moving average price is $54.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 15.90, a price-to-earnings-growth ratio of 0.60 and a beta of 0.63.

Concentrix (NASDAQ:CNXCGet Free Report) last announced its earnings results on Wednesday, January 15th. The company reported $3.26 earnings per share for the quarter, beating the consensus estimate of $3.01 by $0.25. The firm had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.44 billion. Concentrix had a return on equity of 16.57% and a net margin of 2.18%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.36 EPS. On average, equities research analysts forecast that Concentrix will post 10.11 earnings per share for the current fiscal year.

Concentrix Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 11th. Stockholders of record on Friday, January 31st will be issued a dividend of $0.3328 per share. The ex-dividend date of this dividend is Friday, January 31st. This represents a $1.33 annualized dividend and a dividend yield of 2.72%. Concentrix’s payout ratio is 43.18%.

Concentrix Company Profile

(Get Free Report

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.

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Analyst Recommendations for Concentrix (NASDAQ:CNXC)

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