Concentrix Corporation (NASDAQ:CNXC) Given Consensus Rating of “Hold” by Brokerages

Shares of Concentrix Corporation (NASDAQ:CNXC) have earned a consensus recommendation of “Hold” from the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $66.25.

Several research firms recently issued reports on CNXC. Weiss Ratings lowered Concentrix from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, December 24th. Wall Street Zen raised shares of Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a research note on Tuesday, September 23rd. Robert W. Baird dropped their price objective on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Finally, Barrington Research reiterated an “outperform” rating and set a $62.00 target price on shares of Concentrix in a report on Thursday, November 20th.

Insider Activity

In related news, CEO Christopher A. Caldwell bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was purchased at an average cost of $40.00 per share, for a total transaction of $40,000.00. Following the completion of the acquisition, the chief executive officer owned 287,661 shares in the company, valued at approximately $11,506,440. This trade represents a 0.35% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders acquired 4,000 shares of company stock valued at $169,410 in the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Concentrix

A number of hedge funds have recently bought and sold shares of CNXC. AQR Capital Management LLC lifted its stake in Concentrix by 25.5% in the second quarter. AQR Capital Management LLC now owns 4,305,469 shares of the company’s stock worth $226,252,000 after acquiring an additional 875,556 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of Concentrix in the 3rd quarter valued at $31,768,000. Norges Bank purchased a new stake in shares of Concentrix during the 2nd quarter worth $23,318,000. Arrowstreet Capital Limited Partnership lifted its position in shares of Concentrix by 247.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 535,843 shares of the company’s stock worth $28,322,000 after purchasing an additional 381,497 shares during the last quarter. Finally, Capital Management Corp VA acquired a new position in shares of Concentrix during the second quarter worth $17,230,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Stock Up 2.9%

Concentrix stock opened at $43.88 on Wednesday. Concentrix has a fifty-two week low of $31.63 and a fifty-two week high of $66.00. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.56 and a current ratio of 1.56. The firm has a 50 day moving average price of $38.27 and a 200 day moving average price of $47.08. The company has a market capitalization of $2.73 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 0.57 and a beta of 0.48.

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.