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

Shares of Concentrix Corporation (NASDAQ:CNXC) gapped up before the market opened on Wednesday . The stock had previously closed at $22.41, but opened at $23.38. Concentrix shares last traded at $24.3260, with a volume of 240,813 shares.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Robert W. Baird reduced their price target on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday. Barrington Research dropped their price objective on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a research report on Monday, April 27th. Bank of America reduced their target price on shares of Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Canaccord Genuity Group decreased their target price on Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.75.

Concentrix Stock Down 3.3%

The business has a 50 day moving average of $25.45 and a 200 day moving average of $31.74. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of -1.11, a price-to-earnings-growth ratio of 0.45 and a beta of 0.47.

Concentrix (NASDAQ:CNXC) last posted its quarterly 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 business had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the firm earned $2.70 EPS. The firm’s quarterly 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, equities analysts anticipate that Concentrix Corporation will post 9.7 EPS for the current year.

Concentrix Announces Dividend

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

Insider Activity

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

Institutional Investors Weigh In On Concentrix

Several large investors have recently modified their holdings of the stock. Osaic Holdings Inc. raised its holdings in Concentrix by 13.4% during the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock worth $118,000 after acquiring an additional 263 shares in the last quarter. State of Wyoming grew its stake in Concentrix by 6.2% in the fourth quarter. State of Wyoming now owns 5,029 shares of the company’s stock valued at $209,000 after purchasing an additional 293 shares in the last quarter. Deutsche Bank AG grew its stake in Concentrix by 4.7% in the fourth quarter. Deutsche Bank AG now owns 6,767 shares of the company’s stock valued at $281,000 after purchasing an additional 303 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Concentrix by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 36,387 shares of the company’s stock worth $1,923,000 after purchasing an additional 384 shares during the last quarter. Finally, Brevan Howard Capital Management LP increased its position in shares of Concentrix by 4.5% during the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company’s stock worth $473,000 after purchasing an additional 384 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

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.