Concentrix’s (CNXC) “Buy” Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of Concentrix (NASDAQ:CNXC) in a report published on Wednesday morning,Benzinga reports. They currently have a $45.00 price target on the stock.

Other equities research analysts also recently issued reports about the stock. Barrington Research lowered their price target on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a research report on Friday, July 24th. Robert W. Baird lowered their target price on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Bank of America cut their price target on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Zacks Research raised Concentrix from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.50.

Concentrix Stock Down 7.8%

CNXC opened at $24.91 on Wednesday. The company has a quick ratio of 1.18, a current ratio of 1.23 and a debt-to-equity ratio of 2.22. The firm has a market cap of $1.52 billion, a P/E ratio of -0.64, a PEG ratio of 0.51 and a beta of 0.52. Concentrix has a 52 week low of $19.12 and a 52 week high of $49.37. The business’s fifty day simple moving average is $27.19 and its 200 day simple moving average is $26.44.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Tuesday, September 29th. The company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.71 by $0.21. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.48 billion. Concentrix had a negative net margin of 23.99% and a positive return on equity of 25.00%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.78 EPS. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. As a group, equities research analysts anticipate that Concentrix will post 9.83 EPS for the current fiscal year.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 3rd. Investors of record on Friday, October 23rd will be given a $0.37 dividend. This is a boost from Concentrix’s previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, October 23rd. Concentrix’s dividend payout ratio is -6.75%.

Hedge Funds Weigh In On Concentrix

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of Concentrix in the 2nd quarter valued at $149,639,000. Groupe Bruxelles Lambert acquired a new stake in shares of Concentrix during the 2nd quarter worth $68,000,000. Deutsche Bank AG acquired a new stake in shares of Concentrix during the 2nd quarter worth $1,084,000. Empowered Funds LLC raised its position in shares of Concentrix by 21.6% in the 1st quarter. Empowered Funds LLC now owns 306,784 shares of the company’s stock worth $8,394,000 after buying an additional 54,585 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of Concentrix in the 2nd quarter worth $16,654,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Concentrix

Concentrix Corporation (NASDAQ: CNXC) is a global technology and services company that helps businesses improve customer engagement, operational performance and digital experiences. The company provides customer experience management, business process outsourcing, technology services and consulting to organizations across industries including technology, retail, healthcare, financial services, communications and travel.

Its offerings include customer care and technical support, sales and revenue generation, fraud prevention, analytics, artificial intelligence, automation, digital transformation and back-office services.