Concentrix (NASDAQ:CNXC) Stock Price Down 7.2% - Here's Why

Key Points

• Concentrix shares fell 7.2% in Tuesday trading, with the stock dipping as low as $23.31 as volume came in far below average.
• Analysts turned more cautious after recent reports, including multiple price target cuts and one downgrade to “strong sell”; the consensus rating is now “Hold” with an average target of $32.75.
• Latest earnings were slightly below expectations, as Concentrix reported $2.63 EPS versus $2.64 expected and revenue of $2.46 billion versus $2.47 billion expected, while also announcing a quarterly dividend of $0.36 per share.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report)'s stock price fell 7.2% during trading on Tuesday . The stock traded as low as $23.31 and last traded at $23.0850. Approximately 91,641 shares changed hands during trading, a decline of 95% from the average session volume of 1,683,015 shares. The stock had previously closed at $24.88.

Analysts Set New Price Targets

CNXC has been the topic of several research analyst reports. Robert W. Baird lowered their price target on Concentrix from $40.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 30th. Canaccord Genuity Group decreased their target price on Concentrix from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Zacks Research cut shares of Concentrix from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 2nd. Bank of America reduced their price objective 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. Finally, Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, March 28th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $32.75.

Concentrix Trading Down 5.1%

The business's 50-day simple moving average is $25.03 and its 200-day simple moving average is $30.89. The company has a market cap of $1.44 billion, a PE ratio of -1.11, a P/E/G ratio of 0.41 and a beta of 0.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.46.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing analysts' consensus estimates of $2.64 by ($0.01). The company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The company's revenue was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $2.70 earnings per share. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. As a group, analysts expect that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Friday, July 24th will be issued a $0.36 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 6.1%. Concentrix's dividend payout ratio is currently -6.75%.

Insider Buying and Selling

In other Concentrix news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm's stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the transaction, the insider directly owned 2,773,667 shares in the company, valued at $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CNXC. Osaic Holdings Inc. boosted its position in Concentrix by 13.4% during the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company's stock worth $118,000 after purchasing an additional 263 shares during the period. State of Wyoming raised its position in shares of Concentrix by 6.2% during the fourth quarter. State of Wyoming now owns 5,029 shares of the company's stock valued at $209,000 after buying an additional 293 shares during the last quarter. Deutsche Bank AG grew its position in Concentrix by 4.7% during the fourth quarter. Deutsche Bank AG now owns 6,767 shares of the company's stock worth $281,000 after buying an additional 303 shares in the last quarter. Brevan Howard Capital Management LP grew its position in Concentrix by 4.5% during the second quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company's stock worth $473,000 after buying an additional 384 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Concentrix by 1.1% during the second quarter. California State Teachers Retirement System now owns 36,387 shares of the company's stock valued at $1,923,000 after acquiring an additional 384 shares during the period. 90.34% of the stock is owned by institutional investors.

Concentrix Company Profile

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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