Concentrix (NASDAQ:CNXC – Get Rating) had its target price lowered by equities researchers at Barrington Research from $202.00 to $183.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Barrington Research's price target suggests a potential upside of 33.85% from the company's previous close.

Concentrix stock traded down $0.42 during mid-day trading on Tuesday, hitting $136.72. 638 shares of the stock were exchanged, compared to its average volume of 238,104. The company has a quick ratio of 1.57, a current ratio of 1.59 and a debt-to-equity ratio of 0.81. Concentrix has a 12 month low of $131.01 and a 12 month high of $208.48. The firm's fifty day simple moving average is $147.86 and its two-hundred day simple moving average is $170.23. The stock has a market capitalization of $7.17 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 0.82 and a beta of 0.63.

Concentrix (NASDAQ:CNXC – Get Rating) last released its quarterly earnings results on Monday, June 27th. The company reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.82 by $0.11. Concentrix had a net margin of 7.66% and a return on equity of 20.87%. The firm had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.57 billion. During the same quarter last year, the business earned $2.37 EPS. The company's revenue was up 14.5% compared to the same quarter last year. As a group, analysts forecast that Concentrix will post 11.32 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. American Trust acquired a new stake in Concentrix in the 1st quarter valued at $241,000. Bank of America Corp DE grew its position in Concentrix by 47.1% in the 1st quarter. Bank of America Corp DE now owns 234,320 shares of the company's stock valued at $39,029,000 after purchasing an additional 75,055 shares during the period. Neuberger Berman Group LLC grew its position in Concentrix by 34.7% in the 1st quarter. Neuberger Berman Group LLC now owns 3,001 shares of the company's stock valued at $500,000 after purchasing an additional 773 shares during the period. Capital World Investors acquired a new stake in Concentrix in the 1st quarter valued at $13,360,000. Finally, Point72 Hong Kong Ltd acquired a new stake in Concentrix in the 1st quarter valued at $404,000. Institutional investors own 75.73% of the company's stock.

About Concentrix (Get Rating)

Concentrix Corporation provides 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. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions.

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