Vanguard Group Inc. Grows Holdings in Concentrix Corporation $CNXC

Key Points

• Vanguard Group Inc. increased its stake in Concentrix Corporation by 2.1%, owning approximately 8.21% of the company, which is valued at around $291.7 million.
• Concentrix reported a quarterly EPS of $2.70, missing estimates of $2.76, despite a year-over-year revenue increase of 1.5% to $2.42 billion.
• The company also declared a quarterly dividend of $0.3328, resulting in an annualized dividend yield of 2.8%.

Vanguard Group Inc. grew its holdings in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,242,763 shares of the company's stock after purchasing an additional 106,217 shares during the quarter. Vanguard Group Inc. owned approximately 8.21% of Concentrix worth $291,707,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Earned Wealth Advisors LLC acquired a new stake in shares of Concentrix in the first quarter valued at approximately $235,000. PNC Financial Services Group Inc. boosted its position in Concentrix by 47.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock worth $84,000 after acquiring an additional 483 shares during the last quarter. Kestrel Investment Management Corp acquired a new stake in Concentrix during the first quarter worth approximately $5,950,000. Natixis Advisors LLC acquired a new stake in Concentrix during the first quarter worth approximately $1,539,000. Finally, Arkadios Wealth Advisors acquired a new stake in Concentrix during the first quarter worth approximately $540,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the transaction, the executive vice president owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. This trade represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.20% of the company's stock.

Concentrix Trading Up 4.9%

NASDAQ:CNXC traded up $2.43 during trading hours on Friday, reaching $52.07. 783,905 shares of the company were exchanged, compared to its average volume of 643,305. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 0.66 and a beta of 0.53. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $77.00. The stock has a 50 day simple moving average of $53.76 and a 200 day simple moving average of $51.46.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the prior year, the business posted $2.69 EPS. The business's revenue was up 1.5% on a year-over-year basis. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. As a group, analysts predict that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were paid a $0.3328 dividend. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Friday, July 25th. Concentrix's dividend payout ratio (DPR) is currently 36.54%.

Analyst Ratings Changes

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

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.