Invesco Ltd. Has $20.78 Million Stock Position in Concentrix Corporation $CNXC

Key Points

• Invesco Ltd. has reduced its stake in Concentrix Corporation by 7.2%, now holding approximately 0.58% of the company's stock, valued at $20.8 million.
• Multiple institutional investors have made adjustments, with Barclays PLC increasing its holdings by 83.9%, reflecting significant investor interest in Concentrix shares.
• Concentrix has seen a recent rating change from analysts, with some reducing target prices while maintaining a consensus rating of "Buy" and a target price of $66.75.

Invesco Ltd. decreased its stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 7.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 373,455 shares of the company's stock after selling 29,002 shares during the quarter. Invesco Ltd. owned 0.58% of Concentrix worth $20,779,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Envestnet Asset Management Inc. lifted its stake in Concentrix by 7.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company's stock worth $9,213,000 after acquiring an additional 12,162 shares in the last quarter. GAMMA Investing LLC lifted its stake in Concentrix by 761.3% in the 1st quarter. GAMMA Investing LLC now owns 2,446 shares of the company's stock worth $136,000 after acquiring an additional 2,162 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in Concentrix in the 4th quarter worth about $294,000. Fifth Third Bancorp lifted its stake in 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 in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in Concentrix in the 1st quarter worth about $495,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Stock Down 2.4%

Shares of NASDAQ CNXC traded down $1.21 during mid-day trading on Tuesday, reaching $50.03. 743,274 shares of the company traded hands, compared to its average volume of 652,859. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. The stock has a market cap of $3.15 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 0.68 and a beta of 0.53. The company's fifty day moving average is $53.51 and its two-hundred day moving average is $51.51. Concentrix Corporation has a fifty-two week low of $36.28 and a fifty-two week high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings data on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The company 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 business's revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company 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. On average, analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were issued a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.7%. Concentrix's dividend payout ratio is currently 36.54%.

Wall Street Analysts Forecast Growth

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

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the 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 transaction, the executive vice president owned 37,130 shares of the company's stock, 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 SEC, which is accessible through this link. Corporate insiders own 3.20% of the company's stock.

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.