Bank of New York Mellon Corp Increases Stake in Concentrix Corporation $CNXC

Bank of New York Mellon Corp increased its stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 6.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 753,086 shares of the company's stock after purchasing an additional 43,316 shares during the period. Bank of New York Mellon Corp owned 1.23% of Concentrix worth $20,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of CNXC. Larson Financial Group LLC raised its holdings in shares of Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company's stock worth $32,000 after buying an additional 479 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock valued at $34,000 after buying an additional 522 shares during the last quarter. Global Retirement Partners LLC grew its holdings 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 last quarter. Allworth Financial LP increased its position in shares of Concentrix by 90.6% in the 3rd quarter. Allworth Financial LP now owns 856 shares of the company's stock valued at $40,000 after acquiring an additional 407 shares during the period. Finally, Webster Bank N. A. acquired a new position in shares of Concentrix in the 1st quarter valued at $41,000. Hedge funds and other institutional investors own 90.34% of the company's stock.

Concentrix Trading Up 3.5%

Shares of Concentrix stock opened at $25.41 on Wednesday. The stock has a market cap of $1.55 billion, a PE ratio of -1.19, a price-to-earnings-growth ratio of 0.45 and a beta of 0.47. The firm has a fifty day moving average price of $25.08 and a 200 day moving average price of $29.49. Concentrix Corporation has a 1 year low of $19.12 and a 1 year high of $59.92. 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 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 during 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%. Concentrix's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous 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. Equities research analysts predict that Concentrix Corporation will post 9.67 earnings per share for the current year.

Concentrix Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 5.7%. Concentrix's dividend payout ratio is presently -6.75%.

Analyst Upgrades and Downgrades

CNXC has been the subject of a number of research reports. Canaccord Genuity Group lowered their price target on Concentrix from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Weiss Ratings reissued a "sell (d)" rating on shares of Concentrix in a report on Friday. Robert W. Baird reduced their price objective on Concentrix from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Barrington Research decreased their target price on Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Finally, Bank of America decreased their target price on Concentrix from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $32.75.

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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