BlackRock Inc. Acquires Shares of 6,678,841 Concentrix Corporation $CNXC

Key Points

• BlackRock acquired 6.68 million Concentrix shares during the second quarter, worth approximately $149.6 million, giving it a 10.95% ownership stake. Institutional investors collectively own 90.34% of CNXC.
• Analysts have lowered their price targets, with the consensus rating at “Hold” and an average target of $32.75. Ratings include three Buys, one Hold and two Sells.
• Concentrix recently reported slightly weaker-than-expected quarterly results, including $2.63 EPS and $2.46 billion in revenue, while maintaining a quarterly dividend of $0.36 per share, representing a 4.9% annualized yield.

BlackRock Inc. acquired a new position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 6,678,841 shares of the company's stock, valued at approximately $149,639,000. BlackRock Inc. owned 10.95% of Concentrix as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CNXC. Osaic Holdings Inc. raised its stake in shares of Concentrix by 13.4% in the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company's stock worth $118,000 after purchasing an additional 263 shares during the last quarter. State of Wyoming increased its position in shares of Concentrix by 6.2% during the fourth quarter. State of Wyoming now owns 5,029 shares of the company's stock worth $209,000 after purchasing an additional 293 shares in the last quarter. Deutsche Bank AG increased its position in Concentrix by 4.7% during 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 last quarter. Brevan Howard Capital Management LP lifted its holdings in shares of Concentrix by 4.5% in the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company's stock worth $473,000 after acquiring an additional 384 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Concentrix by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 36,387 shares of the company's stock valued at $1,923,000 after buying an additional 384 shares during the period. 90.34% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNXC has been the topic of a number of research analyst reports. Robert W. Baird cut their price objective on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Canaccord Genuity Group decreased their price objective on shares of Concentrix from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Weiss Ratings reissued a "sell (d)" rating on shares of Concentrix in a research note on Friday, July 24th. Barrington Research reduced their target price on Concentrix from $38.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Finally, Bank of America reduced their price objective on Concentrix from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. 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. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $32.75.

Concentrix Stock Performance

NASDAQ:CNXC opened at $29.38 on Friday. Concentrix Corporation has a twelve month low of $19.12 and a twelve month high of $57.88. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -1.38, a price-to-earnings-growth ratio of 0.52 and a beta of 0.45. 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 50-day moving average of $24.62 and a 200-day moving average of $27.15.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Monday, June 29th. The company reported $2.63 earnings per share (EPS) 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 business had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.47 billion. During the same quarter in the previous year, the company earned $2.70 EPS. Concentrix's revenue for the quarter 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. Analysts forecast that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were paid 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 4.9%. Concentrix's dividend payout ratio is -6.75%.

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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