Concentrix Corporation (NASDAQ:CNXC) Receives Consensus Rating of "Buy" from Analysts

Key Points

• Concentrix Corporation (NASDAQ:CNXC) has received a consensus rating of "Buy" from analysts, with a target price averaging $66.75 among five brokerages covering the firm.
• Institutional investors hold 90.34% of Concentrix's stock, with AQR Capital Management LLC increasing its stake significantly by 850.1% recently.
• The company reported a net margin of 2.54% for the latest quarter, despite missing earnings per share estimates, and has set guidance for FY 2025 EPS at 11.530-11.760.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) has earned an average recommendation of "Buy" from the five research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $66.75.

Several brokerages have commented on CNXC. Robert W. Baird boosted their price target on shares of Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Barrington Research reiterated an "outperform" rating and issued a $54.00 target price on shares of Concentrix in a report on Tuesday, June 24th. Canaccord Genuity Group reiterated a "buy" rating and issued a $80.00 target price on shares of Concentrix in a report on Monday, June 30th. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Bank of America decreased their target price on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday, June 27th.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total value of $28,955.00. Following the completion of the sale, the executive vice president directly owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.20% of the company's stock.

Institutional Investors Weigh In On Concentrix

Several hedge funds have recently modified their holdings of CNXC. AQR Capital Management LLC raised its stake in Concentrix by 850.1% during the first quarter. AQR Capital Management LLC now owns 3,429,913 shares of the company's stock worth $190,840,000 after acquiring an additional 3,068,916 shares in the last quarter. Norges Bank bought a new position in Concentrix in the second quarter valued at about $23,318,000. Millennium Management LLC boosted its holdings in Concentrix by 232.9% during the fourth quarter. Millennium Management LLC now owns 578,700 shares of the company's stock worth $25,040,000 after buying an additional 404,885 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Concentrix by 247.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 535,843 shares of the company's stock worth $28,322,000 after buying an additional 381,497 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its holdings in Concentrix by 55.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after buying an additional 359,476 shares during the last quarter. 90.34% of the stock is owned by institutional investors.

Concentrix Stock Up 0.5%

Shares of NASDAQ:CNXC opened at $51.97 on Thursday. The firm has a market cap of $3.28 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. The company has a fifty day simple moving average of $53.39 and a 200 day simple moving average of $51.65. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14. Concentrix has a 12-month low of $36.28 and a 12-month high of $76.11.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the company posted $2.69 earnings per share. The firm's revenue for the quarter was up 1.5% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. On average, equities research analysts anticipate that Concentrix will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were given a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.6%. Concentrix's dividend payout ratio is presently 36.54%.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.

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