Concentrix (NASDAQ:CNXC) Announces Quarterly Earnings Results, Misses Estimates By $0.06 EPS

Concentrix (NASDAQ:CNXC - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.06), RTT News reports. 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 firm posted $2.69 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. Concentrix updated its FY 2025 guidance to 11.530-11.760 EPS and its Q3 2025 guidance to 2.800-2.910 EPS.

Concentrix Trading Down 6.2%

NASDAQ CNXC traded down $3.42 on Friday, hitting $51.71. The company's stock had a trading volume of 2,359,685 shares, compared to its average volume of 734,237. Concentrix has a 1-year low of $36.28 and a 1-year high of $77.00. The company has a quick ratio of 1.65, a current ratio of 1.61 and a debt-to-equity ratio of 1.14. The company's 50-day moving average is $53.86 and its 200 day moving average is $49.54. The firm has a market cap of $3.30 billion, a PE ratio of 14.21, a PEG ratio of 0.67 and a beta of 0.56.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th will be given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.57%. The ex-dividend date is Friday, July 25th. Concentrix's dividend payout ratio (DPR) is currently 33.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CNXC shares. Robert W. Baird upped their price target on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday. Barrington Research restated an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a research report on Tuesday, June 24th. Wall Street Zen cut shares of Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Finally, Bank of America decreased their price target on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research report on Friday. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $66.75.

Insider Transactions at Concentrix

In other news, Director Olivier Duha sold 29,444 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $48.52, for a total transaction of $1,428,622.88. Following the completion of the sale, the director now directly owns 1,155,862 shares in the company, valued at $56,082,424.24. This represents a 2.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Monday, March 31st. The stock was sold at an average price of $55.31, for a total transaction of $27,655.00. Following the sale, the executive vice president now owns 39,130 shares of the company's stock, valued at approximately $2,164,280.30. This trade represents a 1.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 30,944 shares of company stock worth $1,510,158 over the last three months. 3.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Concentrix

Several large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its position in shares of Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after buying an additional 522 shares during the period. Focus Partners Wealth bought a new position in Concentrix during the first quarter worth $781,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Concentrix by 17.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company's stock worth $8,152,000 after acquiring an additional 21,746 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Concentrix by 75.1% during the first quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company's stock worth $23,552,000 after acquiring an additional 181,546 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in Concentrix by 9.5% during the first quarter. Royal Bank of Canada now owns 47,501 shares of the company's stock worth $2,643,000 after acquiring an additional 4,133 shares in the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.