Concentrix Corporation $CNXC Shares Purchased by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group L.P. increased its holdings in Concentrix Corporation by 5.5% in the first quarter, owning 514,924 shares valued at approximately $28.65 million.
• Concentrix reported a Q2 EPS of $2.70, missing estimates by $0.06, while quarterly revenue reached $2.42 billion, surpassing expectations.
• The firm declared a quarterly dividend of $0.3328 per share, reflecting an annual yield of 2.6% and a payout ratio of 36.54%.

Alyeska Investment Group L.P. raised its holdings in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 5.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 514,924 shares of the company's stock after purchasing an additional 26,746 shares during the quarter. Alyeska Investment Group L.P. owned 0.81% of Concentrix worth $28,650,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CNXC. Focus Partners Advisor Solutions LLC bought a new position in Concentrix during the 1st quarter worth approximately $667,000. Royal Bank of Canada lifted its holdings in Concentrix by 9.5% during the 1st quarter. Royal Bank of Canada now owns 47,501 shares of the company's stock worth $2,643,000 after buying an additional 4,133 shares during the last quarter. Caption Management LLC bought a new position in Concentrix during the 1st quarter worth approximately $2,238,000. Vident Advisory LLC lifted its holdings in Concentrix by 560.5% during the 1st quarter. Vident Advisory LLC now owns 31,340 shares of the company's stock worth $1,744,000 after buying an additional 26,595 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Concentrix during the 1st quarter worth approximately $7,641,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Trading Up 0.5%

Shares of NASDAQ CNXC opened at $51.97 on Thursday. The company has a market cap of $3.28 billion, a price-to-earnings ratio of 14.28, a price-to-earnings-growth ratio of 0.70 and a beta of 0.53. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $76.11. 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 stock's 50 day simple moving average is $53.39 and its 200 day simple moving average is $51.65.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.06). The company 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 for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the business posted $2.69 EPS. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. Equities research analysts expect that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

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

Wall Street Analysts Forecast Growth

CNXC has been the topic of a number of research analyst reports. Barrington Research reaffirmed an "outperform" rating and set a $54.00 target price on shares of Concentrix in a report on Tuesday, June 24th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 target price on shares of Concentrix in a report on Monday, June 30th. Bank of America reduced their target price on Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. Robert W. Baird increased their target price on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Finally, Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $66.75.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the sale, the executive vice president 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

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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