Concentrix Corporation (NASDAQ:CNXC) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• Concentrix has a consensus analyst rating of “Hold” from five covering analysts, with an average 12-month price target of $48.50. The group includes one sell, one hold, and three buy ratings.
• The company recently posted quarterly earnings of $2.61 per share, missing estimates by $0.04, while revenue of $2.50 billion slightly topped expectations and rose 5.4% year over year.
• Concentrix also pays a quarterly dividend of $0.36 per share, equal to an annualized yield of about 5.2%. Insider activity was mixed, with the CFO buying shares while a major shareholder sold a large stake.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) has been assigned a consensus rating of "Hold" from the five analysts that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $48.50.

CNXC has been the subject of several research analyst reports. Weiss Ratings reissued a "sell (d)" rating on shares of Concentrix in a report on Monday, April 27th. Canaccord Genuity Group decreased their price objective on Concentrix from $80.00 to $55.00 and set a "buy" rating for the company in a report on Wednesday, March 25th. Robert W. Baird decreased their price objective on Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Barrington Research decreased their price objective on Concentrix from $62.00 to $38.00 and set an "outperform" rating for the company in a report on Wednesday, March 25th. Finally, Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, March 28th.

Insider Buying and Selling at Concentrix

In related news, CFO Andre S. Valentine purchased 2,500 shares of the firm's stock in a transaction that occurred on Thursday, April 9th. The stock was purchased at an average cost of $27.95 per share, with a total value of $69,875.00. Following the completion of the acquisition, the chief financial officer directly owned 89,066 shares in the company, valued at $2,489,394.70. This trade represents a 2.89% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total value of $133,500,000.00. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Concentrix

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its holdings in shares of Concentrix by 1.8% during the third quarter. AQR Capital Management LLC now owns 4,380,821 shares of the company's stock worth $202,175,000 after purchasing an additional 75,352 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Concentrix by 18.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,951,378 shares of the company's stock worth $80,746,000 after purchasing an additional 460,108 shares during the period. Pzena Investment Management LLC lifted its holdings in Concentrix by 0.5% in 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 acquired a new stake in Concentrix in the first quarter valued at $44,523,000. Finally, State Street Corp lifted its holdings in Concentrix by 8.7% in the second quarter. State Street Corp now owns 1,622,854 shares of the company's stock valued at $85,776,000 after acquiring an additional 130,529 shares during the period. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Price Performance

CNXC stock opened at $27.82 on Friday. The company has a market capitalization of $1.70 billion, a P/E ratio of -1.29, a PEG ratio of 0.36 and a beta of 0.43. Concentrix has a twelve month low of $22.05 and a twelve month high of $62.14. The business has a 50 day simple moving average of $26.54 and a 200-day simple moving average of $33.25. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.43.

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

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.44 annualized dividend and a dividend yield of 5.2%. Concentrix's dividend payout ratio (DPR) is currently -6.68%.

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.

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