Concentrix Corporation (NASDAQ:CNXC) Given Average Rating of "Hold" by Analysts

Key Points

• Concentrix has an average analyst rating of "Hold" from five covering firms, with a mixed split of one sell, one hold, and three buy ratings. The average 1-year price target is $48.50.
• The stock fell 4.2% and recently traded near $23.24, close to its 52-week low of $22.85. The company also reported quarterly EPS of $2.61, slightly below estimates, while revenue came in just above expectations.
• Insider and institutional activity was notable: a major shareholder sold 6 million shares, while the CFO bought 2,500 shares. Meanwhile, institutional investors own about 90.34% of the stock, and Concentrix recently paid a quarterly dividend of $0.36 per share, yielding about 6.2%.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) has been assigned an average rating of "Hold" from the five research firms that are currently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $48.50.

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of Concentrix in a research note on Monday, April 27th. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Barrington Research cut their price target on shares of Concentrix from $62.00 to $38.00 and set an "outperform" rating on the stock in a report on Wednesday, March 25th. Robert W. Baird reduced their price objective on shares of Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Finally, Canaccord Genuity Group decreased their price objective on shares of Concentrix from $80.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, March 25th.

Insiders Place Their Bets

In related news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of Concentrix stock in a transaction on 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 sale, the insider directly owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andre S. Valentine acquired 2,500 shares of the business's stock in a transaction on Thursday, April 9th. The stock was acquired at an average cost of $27.95 per share, for a total transaction of $69,875.00. Following the transaction, the chief financial officer owned 89,066 shares of the company's stock, valued at approximately $2,489,394.70. The trade was a 2.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On Concentrix

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in Concentrix by 25.5% in the second quarter. AQR Capital Management LLC now owns 4,305,469 shares of the company's stock valued at $226,252,000 after acquiring an additional 875,556 shares during the last quarter. Pzena Investment Management LLC increased its stake in shares of Concentrix by 32.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company's stock worth $121,713,000 after purchasing an additional 714,604 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Concentrix by 28.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,491,270 shares of the company's stock worth $103,588,000 after purchasing an additional 551,778 shares during the period. Alyeska Investment Group L.P. bought a new stake in shares of Concentrix in the 4th quarter worth approximately $22,913,000. Finally, Jupiter Asset Management Ltd. purchased a new position in Concentrix in the fourth quarter valued at approximately $19,385,000. Institutional investors own 90.34% of the company's stock.

Concentrix Stock Down 4.2%

CNXC stock opened at $23.24 on Tuesday. Concentrix has a twelve month low of $22.85 and a twelve month high of $62.14. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.43. The stock's 50 day moving average is $28.75 and its 200-day moving average is $35.08. The firm has a market capitalization of $1.42 billion, a PE ratio of -1.08, a P/E/G ratio of 0.30 and a beta of 0.37.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.65 by ($0.04). Concentrix had a positive return on equity of 17.80% and a negative net margin of 13.35%.The company had revenue of $2.50 billion for the quarter, compared to the consensus estimate of $2.49 billion. During the same quarter last year, the company posted $2.79 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year. Sell-side analysts expect that Concentrix will post 10.42 EPS for the current fiscal year.

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, April 24th. Concentrix's dividend payout ratio (DPR) is presently -6.68%.

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.

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