Concentrix Corporation $CNXC Shares Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC increased its holdings in Concentrix Corporation by 560.5% in Q1, acquiring a total of 31,340 shares valued at $1.74 million.
• Concentrix reported earnings of $2.70 per share, missing analysts' expectations of $2.76, while revenue for the quarter reached $2.42 billion, exceeding estimates of $2.38 billion.
• The company recently declared a quarterly dividend of $0.3328 per share, yielding approximately 2.5%, with a payout ratio of 36.54%.

Vident Advisory LLC boosted its holdings in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 560.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,340 shares of the company's stock after acquiring an additional 26,595 shares during the period. Vident Advisory LLC's holdings in Concentrix were worth $1,744,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. UMB Bank n.a. raised its position in Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after acquiring an additional 217 shares during the last quarter. First Horizon Advisors Inc. raised its position in Concentrix by 111.8% during the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after acquiring an additional 444 shares during the last quarter. American Century Companies Inc. raised its position in Concentrix by 3.8% during the first quarter. American Century Companies Inc. now owns 12,942 shares of the company's stock worth $720,000 after acquiring an additional 476 shares during the last quarter. PNC Financial Services Group Inc. raised 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. Finally, Fifth Third Bancorp raised its position in Concentrix by 36.5% during the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after acquiring an additional 548 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Activity at Concentrix

In other 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.20% of the company's stock.

Concentrix Price Performance

Concentrix stock opened at $52.76 on Tuesday. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.70 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 1 year low of $36.28 and a 1 year high of $76.95. The firm has a 50 day moving average price of $53.48 and a 200 day moving average price of $51.64.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The company's quarterly revenue was up 1.5% on a year-over-year basis. During the same period last year, the firm earned $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. Sell-side analysts predict that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were given 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%.

Analyst Ratings Changes

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

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.

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