Nordea Investment Management AB Boosts Stake in Concentrix Co. (NASDAQ:CNXC)

Nordea Investment Management AB increased its holdings in Concentrix Co. (NASDAQ:CNXC - Free Report) by 43.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,654 shares of the company's stock after acquiring an additional 21,568 shares during the quarter. Nordea Investment Management AB owned approximately 0.11% of Concentrix worth $3,076,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNXC. GAMMA Investing LLC raised its position in shares of Concentrix by 64.9% in the 3rd quarter. GAMMA Investing LLC now owns 729 shares of the company's stock worth $37,000 after acquiring an additional 287 shares in the last quarter. Benjamin F. Edwards & Company Inc. bought a new position in Concentrix in the second quarter worth about $68,000. Quarry LP lifted its position in shares of Concentrix by 769.9% during the second quarter. Quarry LP now owns 1,244 shares of the company's stock valued at $79,000 after buying an additional 1,101 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Concentrix in the 3rd quarter valued at about $146,000. Finally, Blue Trust Inc. grew its position in shares of Concentrix by 62.4% in the 3rd quarter. Blue Trust Inc. now owns 3,132 shares of the company's stock worth $161,000 after buying an additional 1,204 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $45.75 on Friday. Concentrix Co. has a 52 week low of $36.28 and a 52 week high of $106.10. 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 market cap of $2.97 billion, a P/E ratio of 14.85, a P/E/G ratio of 0.56 and a beta of 0.63. The business's 50 day moving average price is $43.05 and its 200 day moving average price is $55.29.

About Concentrix

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.