Concentrix Co. (NASDAQ:CNXC) Short Interest Update

Concentrix Co. (NASDAQ:CNXC - Get Free Report) was the target of a large increase in short interest in December. As of December 15th, there was short interest totalling 6,800,000 shares, an increase of 7.4% from the November 30th total of 6,330,000 shares. Approximately 14.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 868,900 shares, the short-interest ratio is presently 7.8 days.

Analysts Set New Price Targets

CNXC has been the topic of several research analyst reports. Bank of America decreased their price objective on shares of Concentrix from $85.00 to $70.00 and set a "neutral" rating on the stock in a research note on Thursday, September 26th. Baird R W upgraded Concentrix to a "strong-buy" rating in a research report on Thursday, October 3rd. Barrington Research dropped their price target on Concentrix from $84.00 to $70.00 and set an "outperform" rating for the company in a report on Thursday, September 26th. Canaccord Genuity Group reduced their price objective on Concentrix from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Thursday, September 26th. Finally, Robert W. Baird started coverage on Concentrix in a research note on Thursday, October 3rd. They issued an "outperform" rating and a $70.00 target price for the company. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Concentrix currently has an average rating of "Buy" and an average target price of $79.00.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell sold 9,823 shares of the company's stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $52.70, for a total value of $517,672.10. Following the sale, the chief executive officer now owns 241,841 shares of the company's stock, valued at approximately $12,745,020.70. This represents a 3.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last ninety days, insiders sold 11,323 shares of company stock valued at $584,362. Corporate insiders own 3.10% of the company's stock.

Hedge Funds Weigh In On Concentrix

Several large investors have recently made changes to their positions in the company. State Street Corp increased its position in Concentrix by 1.3% in the third quarter. State Street Corp now owns 1,401,953 shares of the company's stock worth $71,850,000 after purchasing an additional 18,304 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Concentrix during the 3rd quarter worth approximately $1,243,000. Raymond James & Associates raised its stake in shares of Concentrix by 73.3% during the third quarter. Raymond James & Associates now owns 55,313 shares of the company's stock worth $2,835,000 after buying an additional 23,387 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in Concentrix by 24.8% in the third quarter. State of Alaska Department of Revenue now owns 64,783 shares of the company's stock valued at $3,319,000 after buying an additional 12,870 shares during the period. Finally, Intech Investment Management LLC bought a new position in Concentrix in the third quarter valued at approximately $1,255,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Trading Up 0.6 %

CNXC stock traded up $0.27 during trading on Thursday, hitting $43.54. The company had a trading volume of 372,775 shares, compared to its average volume of 580,326. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 14.14, a PEG ratio of 0.56 and a beta of 0.63. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.18. The firm has a 50-day moving average price of $42.83 and a 200-day moving average price of $55.96. Concentrix has a 12 month low of $36.28 and a 12 month high of $106.10.

Concentrix Company Profile

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.