Concentrix (NASDAQ:CNXC) Shares Gap Up - Here's What Happened

Key Points

• Concentrix shares gapped up before trading on Tuesday, opening at $24.39 after closing at $23.42 the prior day, though the stock later traded around $23.48.
• Several analysts turned more cautious on CNXC, with multiple price target cuts and downgrades, including Zacks Research moving the stock to strong sell; the consensus rating is now Hold with an average target of $32.75.
• The company recently reported mixed quarterly results, missing EPS and revenue estimates by a small margin, while also announcing a $0.36 quarterly dividend payable August 4, implying a 6.1% annualized yield.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $23.42, but opened at $24.39. Concentrix shares last traded at $23.4750, with a volume of 210,921 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CNXC. Canaccord Genuity Group dropped their price target on Concentrix from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Barrington Research decreased their target price on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Zacks Research downgraded shares of Concentrix from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 2nd. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Finally, Bank of America reduced their price target on shares of Concentrix from $32.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $32.75.

Concentrix Stock Performance

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 company has a market cap of $1.45 billion, a price-to-earnings ratio of -1.11, a P/E/G ratio of 0.43 and a beta of 0.47. The firm has a fifty day simple moving average of $25.28 and a 200 day simple moving average of $31.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The business's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business 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. On average, sell-side analysts expect that Concentrix Corporation will post 9.67 earnings per share for the current fiscal 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 paid a $0.36 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.44 annualized dividend and a dividend yield of 6.1%. Concentrix's dividend payout ratio (DPR) is presently -6.75%.

Insider Buying and Selling at Concentrix

In other Concentrix news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the stock in a transaction 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 $61,714,090.75. This represents a 68.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andre S. Valentine purchased 2,500 shares of the firm's stock in a transaction on Thursday, April 9th. The stock was bought at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the transaction, the chief financial officer directly owned 89,066 shares in the company, valued at approximately $2,489,394.70. The trade was a 2.89% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On Concentrix

Several hedge funds have recently made changes to their positions in CNXC. Thompson Investment Management Inc. increased its position in shares of Concentrix by 36.9% during the fourth quarter. Thompson Investment Management Inc. now owns 216,154 shares of the company's stock valued at $8,988,000 after purchasing an additional 58,251 shares during the period. Invenomic Capital Management LP raised its stake in shares of Concentrix by 19.7% in the third quarter. Invenomic Capital Management LP now owns 822,345 shares of the company's stock valued at $37,951,000 after purchasing an additional 135,429 shares in the last quarter. Hussman Strategic Advisors Inc. lifted its position in Concentrix by 100.0% in the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company's stock worth $3,493,000 after purchasing an additional 42,000 shares during the period. Pzena Investment Management LLC lifted its position in Concentrix by 32.3% in the fourth 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 period. Finally, Jupiter Asset Management Ltd. acquired a new stake in Concentrix during the fourth quarter worth $19,385,000. Institutional investors own 90.34% of the company's stock.

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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