Concentrix Corporation $CNXC Stock: Capital Management Corp VA Lowers Holdings

Key Points

• Capital Management Corp VA cut its Concentrix stake by 21% in the third quarter, selling 228,477 shares and retaining 857,464 shares worth approximately $21.4 million. Institutional investors and hedge funds collectively own 90.34% of the company.
• Analyst sentiment is mixed, with ratings ranging from buy to sell; the stock has a consensus rating of Hold and an average price target of $33.50, compared with a recent price of $30.89.
• Concentrix exceeded quarterly EPS expectations but missed revenue estimates, while revenue declined 1.2% year over year. The company raised its quarterly dividend to $0.37, implying an annualized yield of about 4.8%.

Capital Management Corp VA reduced its position in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 21.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 857,464 shares of the company's stock after selling 228,477 shares during the quarter. Concentrix comprises approximately 3.2% of Capital Management Corp VA's investment portfolio, making the stock its 10th biggest holding. Capital Management Corp VA owned about 1.40% of Concentrix worth $21,394,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Concentrix in the second quarter worth about $149,639,000. Bank of America Corp DE purchased a new stake in shares of Concentrix during the second quarter worth about $18,248,000. Groupe Bruxelles Lambert purchased a new stake in shares of Concentrix during the second quarter worth about $68,000,000. Deutsche Bank AG acquired a new position in shares of Concentrix during the second quarter valued at about $1,084,000. Finally, Legal & General Group Plc acquired a new position in shares of Concentrix during the second quarter valued at about $3,337,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on CNXC. Canaccord Genuity Group reiterated a "buy" rating and issued a $45.00 target price on shares of Concentrix in a research note on Wednesday, September 30th. Weiss Ratings restated a "sell (d)" rating on shares of Concentrix in a research note on Thursday, October 22nd. Bank of America restated a "neutral" rating and set a $29.00 price target on shares of Concentrix in a research note on Thursday, October 1st. Finally, Zacks Research raised shares of Concentrix from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $33.50.

Concentrix Price Performance

Shares of NASDAQ:CNXC opened at $30.89 on Tuesday. Concentrix Corporation has a twelve month low of $19.12 and a twelve month high of $44.78. The company's 50 day moving average is $28.57 and its 200 day moving average is $28.63. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.22. The company has a market cap of $1.89 billion, a PE ratio of -0.79, a price-to-earnings-growth ratio of 0.58 and a beta of 0.52.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Tuesday, September 29th. The company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.71 by $0.21. The business had revenue of $2.45 billion during the quarter, compared to analysts' expectations of $2.48 billion. Concentrix had a negative net margin of 23.99% and a positive return on equity of 25.00%. The business's quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.78 EPS. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. On average, sell-side analysts forecast that Concentrix Corporation will post 9.77 EPS for the current year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 3rd. Shareholders of record on Friday, October 23rd will be issued a $0.37 dividend. The ex-dividend date of this dividend is Friday, October 23rd. This is a positive change from Concentrix's previous quarterly dividend of $0.36. This represents a $1.48 annualized dividend and a yield of 4.8%. Concentrix's dividend payout ratio is currently -3.80%.

Concentrix Profile

Concentrix Corporation NASDAQ: CNXC is a global technology and services company that helps businesses improve customer engagement and operational performance. Its offerings include customer experience management, digital operations, business process services, consulting, analytics, artificial intelligence, automation, and technology solutions.

The company supports customer care, technical support, sales, marketing, trust and safety, and back-office functions. Concentrix serves organizations across industries such as technology and electronics, retail, banking and financial services, healthcare, travel and transportation, communications and media, and automotive.

Concentrix operates across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.

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