Concentrix (NASDAQ:CNXC) Shares Up 8.3% - What's Next?

Key Points

• Concentrix shares rose 8.3% in mid-day trading Monday, climbing as high as $23.49 after closing at $22.20 the prior day. Trading volume was far below normal, with about 175,697 shares changing hands versus an average of 1.68 million.
• Analysts have been lowering price targets on the stock, though the consensus rating remains Hold with an average target of $32.75. Recent cuts included Baird and Barrington Research to $30, Bank of America to $26, and Canaccord to $45.
• The company recently missed quarterly EPS estimates by a penny and reported revenue slightly below expectations, while also announcing a quarterly dividend of $0.36 per share. The dividend implies a 5.6% annual yield.

Shares of Concentrix Corporation (NASDAQ:CNXC - Get Free Report) shot up 8.3% during mid-day trading on Monday . The stock traded as high as $23.49 and last traded at $24.0430. 175,697 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 1,681,411 shares. The stock had previously closed at $22.20.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CNXC shares. Robert W. Baird dropped their price target on Concentrix from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Barrington Research reduced their price objective on Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Canaccord Genuity Group lowered their target price on Concentrix from $55.00 to $45.00 and set a "buy" rating on the stock in a research note on Tuesday, June 30th. Bank of America cut their price target on shares of Concentrix from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Finally, Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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 50 day simple moving average of $25.01 and a 200-day simple moving average of $30.99. The stock has a market capitalization of $1.56 billion, a P/E ratio of -1.20, a price-to-earnings-growth ratio of 0.41 and a beta of 0.47.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.01). Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The firm had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.47 billion. During the same period last year, the business posted $2.70 EPS. The company's revenue was up 1.9% compared to the same quarter last year. 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, equities analysts forecast that Concentrix Corporation will post 9.67 EPS for the current year.

Concentrix Announces Dividend

The firm also recently announced 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 5.6%. Concentrix's dividend payout ratio (DPR) is presently -6.75%.

Insider Activity

In related news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the company's stock in a transaction that occurred on Wednesday, April 29th. The shares were 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 represents a 68.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Concentrix

Several institutional investors have recently made changes to their positions in CNXC. Larson Financial Group LLC raised its stake in shares of Concentrix by 224.9% during the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company's stock valued at $32,000 after purchasing an additional 479 shares during the period. Geneos Wealth Management Inc. grew its holdings in Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock valued at $34,000 after buying an additional 522 shares in the last quarter. Global Retirement Partners LLC increased its position in shares of Concentrix by 1,032.5% during the fourth quarter. Global Retirement Partners LLC now owns 872 shares of the company's stock valued at $36,000 after buying an additional 795 shares during the period. Allworth Financial LP increased its position in shares of Concentrix by 90.6% during the third quarter. Allworth Financial LP now owns 856 shares of the company's stock valued at $40,000 after buying an additional 407 shares during the period. Finally, Webster Bank N. A. purchased a new stake in shares of Concentrix in the first quarter worth about $41,000. Hedge funds and other 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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