Boston Partners Buys 91,130 Shares of Concentrix Corporation $CNXC

Key Points

• Boston Partners increased its stake in Concentrix Corporation by 17.1%, acquiring an additional 91,130 shares for a total of 624,274 shares worth approximately $33.99 million.
• Concentrix reported $2.70 EPS for its latest quarter, missing the consensus estimate, while quarterly revenue increased by 1.5% year-over-year.
• The company recently declared a quarterly dividend of $0.3328 per share, representing an annualized yield of 2.7% and a payout ratio of 36.54%.

Boston Partners grew its position in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 17.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 624,274 shares of the company's stock after purchasing an additional 91,130 shares during the period. Boston Partners owned about 0.98% of Concentrix worth $33,991,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. UMB Bank n.a. grew its position in Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after buying an additional 444 shares during the period. PNC Financial Services Group Inc. raised its stake in Concentrix by 47.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock worth $84,000 after purchasing an additional 483 shares in the last quarter. Fifth Third Bancorp raised its stake in Concentrix by 36.5% in the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after purchasing an additional 548 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Concentrix by 582.5% during the 1st quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock worth $117,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 90.34% of the company's stock.

Wall Street Analyst Weigh In

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

Insider Activity at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total transaction of $28,955.00. Following the transaction, the executive vice president directly owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. The trade was a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by insiders.

Concentrix Price Performance

Concentrix stock traded up $0.61 during mid-day trading on Wednesday, hitting $49.37. 729,761 shares of the company traded hands, compared to its average volume of 651,548. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 0.65 and a beta of 0.53. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. Concentrix Corporation has a one year low of $36.28 and a one year high of $77.00. The stock has a fifty day moving average price of $53.97 and a 200-day moving average price of $51.43.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The company's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.69 earnings per share. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. On average, equities analysts predict that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were paid a $0.3328 dividend. This represents a $1.33 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, July 25th. Concentrix's payout ratio is presently 36.54%.

Concentrix Profile

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.