Concentrix Corporation $CNXC Stock Position Lowered by Teza Capital Management LLC

Key Points

• Teza Capital Management LLC has reduced its stake in Concentrix Corporation by 85.7%, holding only 3,791 shares valued at approximately $211,000 after selling 22,769 shares in the first quarter.
• Analysts have mixed ratings for Concentrix, with a consensus rating of "Buy" and a target price around $66.75, following a downgrade by Wall Street Zen from a "buy" to a "hold".
• Concentrix recently announced a quarterly dividend of $0.3328 per share, translating to an annual yield of 2.5%, with a payout ratio of 36.54%.

Teza Capital Management LLC decreased its position in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 85.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,791 shares of the company's stock after selling 22,769 shares during the period. Teza Capital Management LLC's holdings in Concentrix were worth $211,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CNXC. UMB Bank n.a. grew its position in Concentrix by 47.3% in the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after purchasing an additional 217 shares during the last quarter. First Horizon Advisors Inc. grew its position in Concentrix by 111.8% in the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after purchasing an additional 444 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Concentrix by 47.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock worth $84,000 after purchasing an additional 483 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Concentrix by 36.5% in the 1st 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 period. Finally, Versant Capital Management Inc boosted its holdings in shares of Concentrix by 582.5% in the first quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock valued at $117,000 after acquiring an additional 1,800 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Concentrix Price Performance

CNXC stock traded down $0.04 on Friday, hitting $53.97. 495,600 shares of the company's stock traded hands, compared to its average volume of 597,989. Concentrix Corporation has a 1-year low of $36.28 and a 1-year high of $68.56. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 14.83, a P/E/G ratio of 0.72 and a beta of 0.53. The stock has a fifty day moving average of $53.11 and a 200-day moving average of $51.99. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14.

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 net margin of 2.54% and a return on equity of 16.31%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the company earned $2.69 earnings per share. The firm's revenue for the quarter 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. On average, analysts forecast that Concentrix Corporation will post 10.11 EPS for the current fiscal 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 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 2.5%. Concentrix's dividend payout ratio is currently 36.54%.

Analyst Ratings Changes

CNXC has been the subject of several recent analyst reports. Wall Street Zen cut shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Robert W. Baird increased their price objective on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Barrington Research reiterated an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a report on Tuesday, June 24th. Bank of America decreased their price objective 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. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a report on Monday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Concentrix presently has a consensus rating of "Buy" and a consensus target price of $66.75.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 37,130 shares in the company, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by corporate insiders.

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.