Bank of America Corp DE Buys 413,913 Shares of Concentrix Corporation $CNXC

Bank of America Corp DE lifted its position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 146.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,191 shares of the company's stock after acquiring an additional 413,913 shares during the quarter. Bank of America Corp DE owned approximately 1.14% of Concentrix worth $19,075,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CNXC. Hussman Strategic Advisors Inc. raised its stake in Concentrix by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company's stock worth $3,493,000 after buying an additional 42,000 shares during the last quarter. Pzena Investment Management LLC boosted its position in Concentrix by 32.3% during the fourth quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company's stock valued at $121,713,000 after acquiring an additional 714,604 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Concentrix during the 4th quarter worth about $19,385,000. LSV Asset Management grew its holdings in Concentrix by 40.2% during the 4th quarter. LSV Asset Management now owns 257,251 shares of the company's stock worth $10,696,000 after acquiring an additional 73,700 shares during the period. Finally, Kopernik Global Investors LLC bought a new position in shares of Concentrix in the 1st quarter worth about $44,523,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. 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. Weiss Ratings reiterated a "sell (d)" rating on shares of Concentrix in a report on Friday, July 24th. Robert W. Baird decreased their price target on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Bank of America dropped their price objective on shares of Concentrix from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Finally, Zacks Research cut shares of Concentrix from a "hold" rating to a "strong sell" rating in a report on Thursday, July 2nd. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Concentrix presently has a consensus rating of "Hold" and a consensus price target of $32.75.

Concentrix Stock Up 8.7%

Shares of NASDAQ:CNXC opened at $25.72 on Thursday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of -1.21, a PEG ratio of 0.43 and a beta of 0.45. Concentrix Corporation has a one year low of $19.12 and a one year high of $57.88. The firm has a fifty day moving average price of $24.46 and a two-hundred day moving average price of $27.63. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted 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). The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations 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 quarter last year, the business posted $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. Analysts anticipate that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were issued a $0.36 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.44 annualized dividend and a yield of 5.6%. Concentrix's payout ratio is -6.75%.

Concentrix 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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