Concentrix (NASDAQ:CNXC) Shares Gap Up – Here’s What Happened

Concentrix Corporation (NASDAQ:CNXC)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $23.42, but opened at $24.39. Concentrix shares last traded at $23.4750, with a volume of 210,921 shares traded.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Barrington Research decreased their target price on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a research report on Monday, April 27th. Robert W. Baird decreased their price objective on Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Canaccord Genuity Group lowered their price objective on Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Tuesday, June 30th. Finally, Zacks Research lowered Concentrix from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.75.

Concentrix Trading Up 1.3%

The company’s 50-day moving average is $25.28 and its 200-day moving average is $31.52. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -1.11, a P/E/G ratio of 0.43 and a beta of 0.47.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.01). Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the firm posted $2.70 earnings per share. The company’s revenue was up 1.9% on a year-over-year basis. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. On average, research analysts predict that Concentrix Corporation will post 9.67 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, July 24th. Concentrix’s dividend payout ratio (DPR) is presently -6.75%.

Insider Buying and Selling at Concentrix

In other news, CFO Andre S. Valentine purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were acquired at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the acquisition, the chief financial officer directly owned 89,066 shares in the company, valued at approximately $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of Concentrix stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the sale, the insider owned 2,773,667 shares of the company’s stock, valued at approximately $61,714,090.75. The trade was a 68.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Thompson Investment Management Inc. grew its position in shares of Concentrix by 36.9% during the 4th quarter. Thompson Investment Management Inc. now owns 216,154 shares of the company’s stock worth $8,988,000 after buying an additional 58,251 shares during the period. Invenomic Capital Management LP lifted its holdings in Concentrix by 19.7% in the third quarter. Invenomic Capital Management LP now owns 822,345 shares of the company’s stock valued at $37,951,000 after buying an additional 135,429 shares during the period. Hussman Strategic Advisors Inc. lifted its holdings in Concentrix by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock valued at $3,493,000 after buying an additional 42,000 shares during the period. Pzena Investment Management LLC boosted its stake in Concentrix by 32.3% in the fourth quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company’s stock valued at $121,713,000 after acquiring an additional 714,604 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Concentrix in the fourth quarter valued at approximately $19,385,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Company Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.