Townsquare Capital LLC Buys Shares of 6,682 Concentrix Corporation $CNXC

Townsquare Capital LLC acquired a new stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,682 shares of the company's stock, valued at approximately $372,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CNXC. Fuller & Thaler Asset Management Inc. raised its stake in Concentrix by 38.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after acquiring an additional 823,228 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Concentrix during the 4th quarter worth approximately $21,123,000. Millennium Management LLC raised its stake in shares of Concentrix by 232.9% during the 4th quarter. Millennium Management LLC now owns 578,700 shares of the company's stock worth $25,040,000 after buying an additional 404,885 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Concentrix by 55.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after buying an additional 359,476 shares in the last quarter. Finally, Man Group plc raised its stake in shares of Concentrix by 6,212.9% during the 4th quarter. Man Group plc now owns 355,670 shares of the company's stock worth $15,390,000 after buying an additional 350,036 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CNXC shares. Bank of America cut their target price on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, June 27th. Barrington Research reissued an "outperform" rating and set a $54.00 target price on shares of Concentrix in a research note on Tuesday, June 24th. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Robert W. Baird increased their target price on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $80.00 target price on shares of Concentrix in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Concentrix presently has an average rating of "Buy" and a consensus price target of $66.75.

Concentrix Price Performance

Shares of CNXC traded up $2.7250 on Friday, reaching $52.3650. The stock had a trading volume of 176,677 shares, compared to its average volume of 792,358. The firm has a market capitalization of $3.30 billion, a PE ratio of 14.35, a PEG ratio of 0.66 and a beta of 0.53. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average of $53.82 and a 200 day moving average of $51.44. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The business's revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.69 EPS. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. Sell-side analysts expect that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, July 25th. Concentrix's dividend payout ratio is 36.54%.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the sale, the executive vice president owned 37,130 shares in the company, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company's stock.

About Concentrix

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.