Man Group plc Buys New Stake in Concentrix Corporation $CNXC

Man Group plc bought a new stake in shares of Concentrix Corporation (NASDAQ:CNXC) during the second quarter, HoldingsChannel reports. The fund bought 377,698 shares of the company’s stock, valued at approximately $8,462,000.

Several other hedge funds also recently bought and sold shares of CNXC. Jupiter Topco LLC purchased a new stake in shares of Concentrix in the second quarter valued at $376,000. Hsbc Holdings PLC acquired a new stake in shares of Concentrix during the second quarter valued at $2,424,000. Legal & General Group Plc purchased a new stake in Concentrix during the 2nd quarter worth about $3,337,000. The Manufacturers Life Insurance Company purchased a new stake in Concentrix during the 2nd quarter worth about $463,000. Finally, Paradigm Capital Management Inc. NY acquired a new position in Concentrix in the 2nd quarter valued at about $682,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on CNXC shares. Canaccord Genuity Group reduced their target price on shares of Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a research report on Friday, July 24th. Barrington Research reduced their price objective on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Robert W. Baird decreased their target price on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Finally, Bank of America decreased their target price on shares of Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $32.75.

Concentrix Stock Up 4.4%

Shares of NASDAQ CNXC opened at $29.38 on Friday. Concentrix Corporation has a 52-week low of $19.12 and a 52-week high of $57.88. The firm has a fifty day moving average of $24.62 and a 200-day moving average of $27.15. The stock has a market capitalization of $1.79 billion, a PE ratio of -1.38, a P/E/G ratio of 0.52 and a beta of 0.45. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.46.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.01). The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The company’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.70 earnings per share. 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, analysts anticipate that Concentrix Corporation will post 9.67 EPS for the current year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, July 24th. This represents a $1.44 annualized dividend and a yield of 4.9%. Concentrix’s dividend payout ratio is currently -6.75%.

About Concentrix

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.