Fintel reports that on October 3, 2024, Baird initiated coverage of Concentrix (NasdaqGS:CNXC) with a Outperform recommendation.
Analyst Price Forecast Suggests 78.66% Upside
As of September 25, 2024, the average one-year price target for Concentrix is $94.04/share. The forecasts range from a low of $82.82 to a high of $131.25. The average price target represents an increase of 78.66% from its latest reported closing price of $52.64 / share.
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The projected annual revenue for Concentrix is 7,074MM, a decrease of 24.76%. The projected annual non-GAAP EPS is 14.29, an increase of 6.83% from the prior forecast.
What is the Fund Sentiment?
There are 668 funds or institutions reporting positions in Concentrix. This is an increase of 4 owner(s) or 0.60% in the last quarter. Average portfolio weight of all funds dedicated to CNXC is 0.13%, an increase of 1.74%. Total shares owned by institutions increased in the last three months by 1.90% to 58,276K shares. 
The put/call ratio of CNXC is 0.52, indicating a bullish outlook.
What are Other Shareholders Doing?
Groupe Bruxelles Lambert holds 8,774K shares representing 13.62% ownership of the company. No change in the last quarter.
Impactive Capital holds 3,846K shares representing 5.97% ownership of the company. No change in the last quarter.
FIL holds 2,640K shares representing 4.10% ownership of the company. In its prior filing, the firm reported owning 1,924K shares , representing an increase of 27.11%. The firm decreased its portfolio allocation in CNXC by 26.83% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,765K shares representing 2.74% ownership of the company. In its prior filing, the firm reported owning 1,782K shares , representing a decrease of 0.96%. The firm decreased its portfolio allocation in CNXC by 7.96% over the last quarter.
FLPSX - Fidelity Low-Priced Stock Fund holds 1,726K shares representing 2.68% ownership of the company. In its prior filing, the firm reported owning 1,735K shares , representing a decrease of 0.51%. The firm increased its portfolio allocation in CNXC by 24.93% over the last quarter.
Concentrix Background Information
(This description is provided by the company.)
Concentrix Corporation is a leading technology-enabled global business services company specializing in customer engagement and improving business performance for some of the world's best brands including over 95 Global Fortune 500 clients and over 90 global disruptor clients. Every day, from more than 40 countries and across 6 continents, our staff delivers next generation customer experience and helps companies better connect with their customers. We create better business outcomes and help differentiate our clients through technology, design, data, process, and people. Concentrix provides services to clients in our key industry verticals: technology & consumer electronics; retail, travel & ecommerce; banking, financial services & insurance; healthcare; communications & media; automotive; and energy & public sector. We are Different by Design.
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This story originally appeared on Fintel.
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