Concentrix (NASDAQ:CNXC) Shares Climb 5.1% – Still a Buy?

Concentrix Corporation (NASDAQ:CNXC)’s stock price rose 5.1% during mid-day trading on Wednesday. The stock traded as high as $25.94 and last traded at $26.1050. 499,778 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 1,653,338 shares. The stock had previously closed at $24.84.

Analyst Ratings Changes

Several equities analysts have recently commented on CNXC shares. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Concentrix in a research note on Thursday, October 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a research report on Friday, July 24th. Robert W. Baird cut their price target on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Barrington Research lowered their price objective on Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Finally, Zacks Research raised Concentrix from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Concentrix currently has an average rating of “Hold” and a consensus target price of $33.50.

Concentrix Stock Performance

The firm’s fifty day simple moving average is $27.21 and its 200 day simple moving average is $26.31. The company has a market capitalization of $1.59 billion, a PE ratio of -0.67, a price-to-earnings-growth ratio of 0.49 and a beta of 0.52. The company has a debt-to-equity ratio of 2.22, a current ratio of 1.23 and a quick ratio of 1.18.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Tuesday, September 29th. The company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.71 by $0.21. Concentrix had a positive return on equity of 25.00% and a negative net margin of 23.99%.The company had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the company posted $2.78 earnings per share. Concentrix’s revenue for the quarter was down 1.2% on a year-over-year basis. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. On average, research analysts predict that Concentrix Corporation will post 9.77 EPS for the current year.

Concentrix Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 3rd. Stockholders of record on Friday, October 23rd will be paid a dividend of $0.37 per share. This is an increase from Concentrix’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend is Friday, October 23rd. Concentrix’s dividend payout ratio is presently -3.70%.

Hedge Funds Weigh In On Concentrix

Several hedge funds and other institutional investors have recently modified their holdings of the business. Engineers Gate Manager LP purchased a new position in Concentrix in the 2nd quarter worth approximately $228,000. Arizona State Retirement System boosted its holdings in Concentrix by 14.8% in the 2nd quarter. Arizona State Retirement System now owns 11,783 shares of the company’s stock valued at $264,000 after purchasing an additional 1,523 shares during the last quarter. Nykredit A S purchased a new stake in shares of Concentrix during the 2nd quarter valued at approximately $29,000. Corient Private Wealth LP increased its stake in Concentrix by 321.6% during the second quarter. Corient Private Wealth LP now owns 121,597 shares of the company’s stock worth $2,724,000 after acquiring an additional 92,752 shares during the last quarter. Finally, Amundi lifted its stake in shares of Concentrix by 46.2% in the 2nd quarter. Amundi now owns 33,437 shares of the company’s stock valued at $749,000 after purchasing an additional 10,572 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Concentrix Company Profile

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.