Concentrix (NASDAQ:CNXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.
According to Zacks, “Concentrix Corporation provides technology-enabled business services. The company serves technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. Concentrix Corporation is based in Fremont, Calif. “
Separately, Barrington Research raised their price target on Concentrix from $182.00 to $202.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 29th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $163.00.
NASDAQ CNXC traded down $7.49 during mid-day trading on Tuesday, hitting $166.00. The stock had a trading volume of 391,336 shares, compared to its average volume of 203,775. Concentrix has a 52-week low of $80.00 and a 52-week high of $191.35. The company has a market cap of $8.69 billion and a price-to-earnings ratio of 25.19. The company has a 50 day simple moving average of $179.49 and a 200 day simple moving average of $167.33. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.34.
Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Sunday, September 26th. The company reported $2.49 earnings per share for the quarter, beating the consensus estimate of $2.24 by $0.25. Concentrix had a return on equity of 18.96% and a net margin of 6.38%. The firm had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.38 billion. As a group, equities analysts anticipate that Concentrix will post 9.34 earnings per share for the current fiscal year.
In related news, EVP Richard Rosso sold 3,000 shares of Concentrix stock in a transaction on Thursday, October 7th. The stock was sold at an average price of $182.69, for a total value of $548,070.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dennis Polk sold 5,000 shares of Concentrix stock in a transaction on Monday, November 1st. The shares were sold at an average price of $177.62, for a total value of $888,100.00. The disclosure for this sale can be found here. Insiders have sold 18,000 shares of company stock valued at $3,207,170 in the last three months. 0.93% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of the stock. FMR LLC acquired a new position in shares of Concentrix during the second quarter worth about $874,067,000. Vanguard Group Inc. acquired a new position in shares of Concentrix during the second quarter worth about $634,575,000. BlackRock Inc. acquired a new position in shares of Concentrix during the second quarter worth about $567,447,000. Capital International Investors acquired a new position in shares of Concentrix during the second quarter worth about $455,853,000. Finally, Ninety One UK Ltd acquired a new position in shares of Concentrix during the second quarter worth about $355,625,000. Hedge funds and other institutional investors own 75.55% of the company’s stock.
About Concentrix
Concentrix Corporation provides technology-infused customer experience solutions worldwide. It provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services. The company also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.