LPL Financial LLC Sells 6,515 Shares of Concentrix Corporation $CNXC

Key Points

• LPL Financial LLC reduced its stake in Concentrix Corporation by 22.1%, owning 23,024 shares valued at $1,281,000 after selling 6,515 shares.
• Concentrix's recent quarterly earnings report showed earnings per share of $2.70, missing estimates, while revenue slightly exceeded expectations at $2.42 billion.
• The company's dividend yield is currently 2.6%, with an annualized dividend of $1.33 paid on August 5th, following an ex-dividend date of July 25th.

LPL Financial LLC trimmed its position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 22.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,024 shares of the company's stock after selling 6,515 shares during the quarter. LPL Financial LLC's holdings in Concentrix were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Copeland Capital Management LLC grew its holdings in shares of Concentrix by 3.0% during the first quarter. Copeland Capital Management LLC now owns 1,373,432 shares of the company's stock worth $76,418,000 after purchasing an additional 40,226 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in Concentrix by 55.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock worth $43,665,000 after buying an additional 359,476 shares during the last quarter. Paradigm Capital Management Inc. NY raised its position in shares of Concentrix by 2.7% during the fourth quarter. Paradigm Capital Management Inc. NY now owns 750,142 shares of the company's stock worth $32,459,000 after purchasing an additional 19,418 shares during the period. Invenomic Capital Management LP raised its position in shares of Concentrix by 41.1% during the fourth quarter. Invenomic Capital Management LP now owns 666,433 shares of the company's stock worth $28,837,000 after purchasing an additional 194,190 shares during the period. Finally, First Trust Advisors LP raised its position in shares of Concentrix by 34.0% during the fourth quarter. First Trust Advisors LP now owns 649,755 shares of the company's stock worth $28,115,000 after purchasing an additional 164,906 shares during the period. Institutional investors own 90.34% of the company's stock.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the company's 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 sale, the executive vice president owned 37,130 shares in the company, valued at $2,150,198.30. This represents a 1.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.20% of the stock is currently owned by insiders.

Concentrix Trading Up 4.8%

Shares of NASDAQ CNXC traded up $2.40 during trading on Friday, reaching $52.76. The company had a trading volume of 858,690 shares, compared to its average volume of 649,639. The company's fifty day moving average price is $53.46 and its 200-day moving average price is $51.56. Concentrix Corporation has a 12 month low of $36.28 and a 12 month high of $76.95. The stock has a market cap of $3.33 billion, a P/E ratio of 14.49, a PEG ratio of 0.67 and a beta of 0.53. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly 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 company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm posted $2.69 EPS. The company's quarterly 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, research analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

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

Analyst Ratings Changes

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

About Concentrix

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.