Caption Management LLC Makes New $2.24 Million Investment in Concentrix Corporation $CNXC

Key Points

• Caption Management LLC has acquired a new position in Concentrix Corporation, purchasing 40,223 shares valued at approximately $2.238 million, which represents about 0.06% ownership.
• Concentrix's stock recently increased by 4.8% following the announcement of its quarterly earnings, which reported an EPS of $2.70, missing analysts' estimates.
• The company declared a quarterly dividend of $0.3328, yielding 2.5%, with an annualized dividend payout currently at $1.33.

Caption Management LLC purchased a new position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 40,223 shares of the company's stock, valued at approximately $2,238,000. Caption Management LLC owned 0.06% of Concentrix at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Concentrix by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,242,763 shares of the company's stock valued at $291,707,000 after buying an additional 106,217 shares in the last quarter. Copeland Capital Management LLC grew its stake in shares of Concentrix by 3.0% in the first quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company's stock valued at $76,418,000 after buying an additional 40,226 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in shares of Concentrix by 55.3% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock valued at $43,665,000 after buying an additional 359,476 shares in the last quarter. Paradigm Capital Management Inc. NY grew its stake in shares of Concentrix by 2.7% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 750,142 shares of the company's stock valued at $32,459,000 after buying an additional 19,418 shares in the last quarter. Finally, Invenomic Capital Management LP grew its stake in shares of Concentrix by 41.1% in the fourth quarter. Invenomic Capital Management LP now owns 666,433 shares of the company's stock valued at $28,837,000 after buying an additional 194,190 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CNXC shares. Robert W. Baird lifted their price objective on Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a research note on Monday, June 30th. 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. Bank of America dropped their price objective on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, June 27th. Finally, Wall Street Zen cut Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $66.75.

Concentrix Stock Up 2.6%

CNXC traded up $1.36 on Friday, hitting $53.82. 614,358 shares of the company were exchanged, compared to its average volume of 578,521. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $74.32. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 14.79, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14. The firm has a 50-day moving average price of $53.38 and a two-hundred day moving average price of $51.71.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the firm earned $2.69 earnings per share. The company's revenue for the quarter was up 1.5% compared to the same quarter last year. 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 year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were issued a dividend of $0.3328 per share. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend was Friday, July 25th. Concentrix's payout ratio is 36.54%.

Insider Transactions at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the completion of the sale, the executive vice president directly owned 37,130 shares of the company's stock, valued at $2,150,198.30. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by company insiders.

Concentrix Company 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.