Concentrix (NASDAQ:CNXC) Trading 8.3% Higher – Here’s What Happened

Shares of Concentrix Corporation (NASDAQ:CNXC) traded up 8.3% during trading on Monday . The company traded as high as $23.49 and last traded at $24.0430. 175,697 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,681,411 shares. The stock had previously closed at $22.20.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CNXC shares. Zacks Research cut shares of Concentrix from a “hold” rating to a “strong sell” rating in a report on Thursday, July 2nd. Bank of America decreased 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, June 30th. Barrington Research dropped their price target on Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Canaccord Genuity Group cut their price objective on Concentrix from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Three research 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 MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $32.75.

Concentrix Stock Down 5.3%

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 P/E ratio of -1.11, a P/E/G ratio of 0.46 and a beta of 0.47. The company’s 50-day simple moving average is $25.03 and its two-hundred day simple moving average is $30.76.

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

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th will be given 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 payout ratio is presently -6.75%.

Insider Activity

In related news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the stock in a transaction that occurred on Wednesday, April 29th. The shares were 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 directly owned 2,773,667 shares of the company’s stock, valued at approximately $61,714,090.75. This represents a 68.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.90% of the company’s stock.

Institutional Trading of Concentrix

A number of hedge funds and other institutional investors have recently modified their holdings of CNXC. AQR Capital Management LLC lifted its stake in shares of Concentrix by 1.8% during the 3rd quarter. AQR Capital Management LLC now owns 4,380,821 shares of the company’s stock valued at $202,175,000 after buying an additional 75,352 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Concentrix by 18.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,951,378 shares of the company’s stock worth $80,746,000 after buying an additional 460,108 shares in the last quarter. Pzena Investment Management LLC raised its holdings in Concentrix by 0.5% during the first quarter. Pzena Investment Management LLC now owns 2,943,212 shares of the company’s stock valued at $80,526,000 after acquiring an additional 16,016 shares during the period. Kopernik Global Investors LLC purchased a new position in shares of Concentrix in the first quarter valued at about $44,523,000. Finally, State Street Corp boosted its stake in shares of Concentrix by 8.7% in the second quarter. State Street Corp now owns 1,622,854 shares of the company’s stock worth $85,776,000 after acquiring an additional 130,529 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

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.