Concentrix Corporation $CNXC Shares Acquired by Vident Advisory LLC

Vident Advisory LLC boosted its stake in Concentrix Corporation (NASDAQ:CNXC) by 560.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,340 shares of the company’s stock after acquiring an additional 26,595 shares during the period. Vident Advisory LLC’s holdings in Concentrix were worth $1,744,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CNXC. Tower Research Capital LLC TRC raised its holdings in Concentrix by 21.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,241 shares of the company’s stock valued at $140,000 after acquiring an additional 580 shares in the last quarter. Northern Trust Corp raised its holdings in Concentrix by 21.1% in the fourth quarter. Northern Trust Corp now owns 492,219 shares of the company’s stock valued at $21,298,000 after acquiring an additional 85,660 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in Concentrix by 221.6% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 39,265 shares of the company’s stock valued at $1,699,000 after acquiring an additional 27,055 shares in the last quarter. Comerica Bank raised its holdings in Concentrix by 11.5% in the fourth quarter. Comerica Bank now owns 37,810 shares of the company’s stock valued at $1,636,000 after acquiring an additional 3,903 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new stake in Concentrix in the fourth quarter valued at $21,123,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CNXC. Wall Street Zen lowered shares of Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 target price on shares of Concentrix in a research note on Monday, June 30th. Robert W. Baird boosted their target price on shares of Concentrix from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, June 26th. Barrington Research reiterated an “outperform” rating and set a $54.00 target price on shares of Concentrix in a research note on Tuesday, June 24th. Finally, Bank of America lowered their target price on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, June 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $66.75.

Concentrix Stock Up 4.8%

Concentrix stock opened at $52.76 on Tuesday. The company has a 50-day simple moving average of $53.48 and a 200-day simple moving average of $51.64. The firm has a market capitalization of $3.33 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.70 and a beta of 0.53. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. Concentrix Corporation has a one year low of $36.28 and a one year high of $76.95.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The firm’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.69 EPS. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. As a group, equities analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were given a dividend of $0.3328 per share. The ex-dividend date was Friday, July 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.5%. Concentrix’s dividend payout ratio is currently 36.54%.

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total transaction of $28,955.00. Following the completion of the transaction, the executive vice president owned 37,130 shares in the company, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.20% of the company’s stock.

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.