Bank of New York Mellon Corp Takes Position in Concentrix Corporation $CNXC

Key Points

• Bank of New York Mellon acquired 743,310 Concentrix shares worth approximately $16.7 million, giving it a 1.22% stake. Institutional investors and hedge funds collectively own 90.34% of CNXC.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $32.75 after several firms lowered their targets; ratings include three Buys, one Hold and two Sells.
• Concentrix reported quarterly revenue of $2.46 billion and adjusted earnings of $2.63 per share, slightly below estimates, while shares recently traded at $30.10. The company pays a quarterly dividend of $0.36, representing a 4.8% annualized yield.

Bank of New York Mellon Corp bought a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 743,310 shares of the company's stock, valued at approximately $16,654,000. Bank of New York Mellon Corp owned 1.22% of Concentrix at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNXC. State of Wyoming acquired a new stake in Concentrix in the 2nd quarter valued at about $173,000. Handelsbanken Fonder AB increased its stake in shares of Concentrix by 5.7% during the second quarter. Handelsbanken Fonder AB now owns 11,200 shares of the company's stock worth $251,000 after buying an additional 600 shares during the period. Pacer Advisors Inc. increased its stake in shares of Concentrix by 2,107.6% during the first quarter. Pacer Advisors Inc. now owns 355,400 shares of the company's stock worth $9,724,000 after buying an additional 339,301 shares during the period. Empowered Funds LLC raised its holdings in Concentrix by 21.6% in the first quarter. Empowered Funds LLC now owns 306,784 shares of the company's stock valued at $8,394,000 after acquiring an additional 54,585 shares in the last quarter. Finally, Militia Capital Management LLC acquired a new stake in Concentrix in the first quarter valued at approximately $331,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CNXC has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 30th. Barrington Research decreased their price objective on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, June 30th. Canaccord Genuity Group lowered their target price on shares of Concentrix from $55.00 to $45.00 and set a "buy" rating for the company in a research note on Tuesday, June 30th. Bank of America dropped their target price on Concentrix from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Concentrix in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $32.75.

Concentrix Trading Up 2.5%

Shares of Concentrix stock opened at $30.10 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.46. The company has a fifty day simple moving average of $24.74 and a 200-day simple moving average of $27.00. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -1.41, a PEG ratio of 0.54 and a beta of 0.45. Concentrix Corporation has a 12-month low of $19.12 and a 12-month high of $57.88.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced 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). Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The company had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.47 billion. During the same period last year, the firm earned $2.70 earnings per share. Concentrix's revenue was up 1.9% on a year-over-year basis. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. On average, equities analysts forecast that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.8%. Concentrix's dividend payout ratio is -6.75%.

About Concentrix

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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