Concentrix (NASDAQ:CNXC) Stock Price Down 8.6% - Time to Sell?

Key Points

• Concentrix shares fell 8.6% on Thursday, trading as low as $21.96, well below the prior close of $23.89 and below both its 50-day and 200-day moving averages.
• Recent analyst sentiment has turned cautious, with multiple firms cutting ratings or price targets; MarketBeat now shows a consensus “Hold” rating and a $32.75 price target.
• The company’s latest earnings missed estimates slightly, with EPS of $2.63 versus $2.64 expected and revenue of $2.46 billion versus $2.47 billion expected, though it also announced a $0.36 quarterly dividend yielding 6.6% annually.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report)'s share price dropped 8.6% on Thursday . The company traded as low as $21.96 and last traded at $21.8470. Approximately 579,519 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,666,155 shares. The stock had previously closed at $23.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wall Street Zen cut shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Bank of America reduced their price target on Concentrix from $32.00 to $26.00 and set a "neutral" rating for the company in a research report on Tuesday, June 30th. Weiss Ratings reiterated a "sell (d)" rating on shares of Concentrix in a research note on Monday, April 27th. Zacks Research cut Concentrix from a "hold" rating to a "strong sell" rating in a report on Thursday, July 2nd. Finally, Barrington Research cut their target price on Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $32.75.

Concentrix Stock Down 8.8%

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.46. The company has a market cap of $1.33 billion, a PE ratio of -1.03, a P/E/G ratio of 0.44 and a beta of 0.47. The stock has a 50-day moving average of $25.11 and a 200-day moving average of $30.03.

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

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.44 annualized dividend and a dividend yield of 6.6%. Concentrix's payout ratio is presently -6.75%.

Insiders Place Their Bets

In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm's stock in a transaction 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 owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in CNXC. Osaic Holdings Inc. lifted its position in Concentrix by 13.4% during the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company's stock valued at $118,000 after buying an additional 263 shares during the period. State of Wyoming lifted its position in Concentrix by 6.2% during the 4th quarter. State of Wyoming now owns 5,029 shares of the company's stock valued at $209,000 after acquiring an additional 293 shares during the period. Deutsche Bank AG grew its holdings in Concentrix by 4.7% in the fourth quarter. Deutsche Bank AG now owns 6,767 shares of the company's stock worth $281,000 after purchasing an additional 303 shares during the period. California State Teachers Retirement System increased its stake in shares of 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 purchasing an additional 384 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its holdings in shares of Concentrix by 4.5% during the second quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company's stock valued at $473,000 after purchasing an additional 384 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other 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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