Concentrix Corporation $CNXC Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. decreased its position in Concentrix Corporation by 14.5% in Q1, owning 172,130 shares valued at approximately $9.58 million.
• Concentrix's stock is currently rated a "Moderate Buy" by analysts, with a consensus price target of $66.75.
• The company recently announced a quarterly dividend of $0.3328 per share, yielding 2.8%, with a payout ratio of 36.54%.

Russell Investments Group Ltd. lessened its holdings in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 14.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 172,130 shares of the company's stock after selling 29,123 shares during the period. Russell Investments Group Ltd. owned approximately 0.27% of Concentrix worth $9,577,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CNXC. UMB Bank n.a. boosted its stake in shares of Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Concentrix by 111.8% during the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after buying an additional 444 shares during the period. PNC Financial Services Group Inc. lifted its position in Concentrix by 47.3% during the first quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock worth $84,000 after buying an additional 483 shares during the period. Fifth Third Bancorp lifted its position in Concentrix by 36.5% during the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after buying an additional 548 shares during the period. Finally, Deutsche Bank AG lifted its position in Concentrix by 16.8% during the first quarter. Deutsche Bank AG now owns 3,969 shares of the company's stock worth $221,000 after buying an additional 570 shares during the period. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Activity

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 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 trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 3.20% of the company's stock.

Concentrix Stock Up 4.9%

Shares of CNXC stock traded up $2.43 during trading hours on Friday, reaching $52.07. The company had a trading volume of 783,905 shares, compared to its average volume of 663,871. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $77.00. The company has a market capitalization of $3.28 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.69 and a beta of 0.53. The stock's fifty day simple moving average is $53.76 and its 200 day simple moving average is $51.50.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (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 analyst estimates of $2.38 billion. During the same quarter last year, the business posted $2.69 EPS. Concentrix's quarterly revenue was up 1.5% compared to the same quarter last year. 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, sell-side analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were paid a $0.3328 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.6%. Concentrix's dividend payout ratio (DPR) is 36.54%.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Robert W. Baird raised their price objective on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Bank of America cut their price objective on Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. Barrington Research restated an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a report on Tuesday, June 24th. Canaccord Genuity Group restated a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a report on Monday, June 30th. 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 given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock 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.