Concentrix (NASDAQ:CNXC) Trading 4.4% Higher

Concentrix Co. (NASDAQ:CNXC) shares were up 4.4% during trading on Tuesday . The stock traded as high as $175.63 and last traded at $174.71. Approximately 697 shares traded hands during mid-day trading, a decline of 100% from the average daily volume of 202,506 shares. The stock had previously closed at $167.39.

A number of equities research analysts have issued reports on the stock. Barrington Research started coverage on shares of Concentrix in a report on Tuesday, June 15th. They set an “outperform” rating and a $182.00 target price on the stock. Zacks Investment Research upgraded Concentrix from a “sell” rating to a “hold” rating in a research note on Tuesday, August 17th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Concentrix has a consensus rating of “Buy” and an average price target of $146.75.

The company’s 50 day simple moving average is $166.33 and its 200-day simple moving average is $157.41. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market capitalization of $9.11 billion and a PE ratio of 29.38.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Sunday, September 26th. The company reported $2.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.24 by $0.25. On average, equities research analysts forecast that Concentrix Co. will post 8.73 earnings per share for the current fiscal year.

In other Concentrix news, EVP Richard Rosso sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, July 7th. The stock was sold at an average price of $161.38, for a total transaction of $484,140.00. Following the sale, the executive vice president now owns 28,130 shares in the company, valued at $4,539,619.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Polk sold 5,000 shares of the stock in a transaction dated Thursday, July 1st. The shares were sold at an average price of $160.24, for a total value of $801,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 20,000 shares of company stock worth $3,234,960. Insiders own 0.93% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CNXC. Rockefeller Capital Management L.P. purchased a new stake in Concentrix during the 2nd quarter valued at $25,000. First PREMIER Bank bought a new position in shares of Concentrix during the second quarter valued at about $32,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Concentrix during the second quarter worth about $33,000. Valley National Advisers Inc. bought a new stake in shares of Concentrix in the second quarter worth about $35,000. Finally, Kistler Tiffany Companies LLC bought a new stake in shares of Concentrix in the second quarter worth about $41,000. Institutional investors and hedge funds own 75.70% of the company’s stock.

About Concentrix (NASDAQ:CNXC)

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.

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