Corient Private Wealth LP Boosts Holdings in Concentrix Corporation $CNXC

Key Points

• Corient Private Wealth increased its Concentrix stake by 321.6% in the second quarter, reaching 121,597 shares valued at approximately $2.7 million. Institutional investors collectively own 90.34% of the company.
• Analysts have a consensus “Hold” rating on CNXC, with an average price target of $32.75. Recent firms lowered their targets, including Bank of America to $26, while maintaining ratings ranging from Sell to Outperform.
• Concentrix shares opened at $27.53, near their 50- and 200-day moving averages, after the company slightly missed quarterly EPS and revenue estimates. The company pays a quarterly dividend of $0.36, representing a 5.2% annualized yield.

Corient Private Wealth LP boosted its stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 321.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 121,597 shares of the company's stock after purchasing an additional 92,752 shares during the period. Corient Private Wealth LP owned approximately 0.20% of Concentrix worth $2,724,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Amundi grew its holdings in Concentrix by 46.2% during the second quarter. Amundi now owns 33,437 shares of the company's stock worth $749,000 after acquiring an additional 10,572 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Concentrix in the second quarter valued at approximately $1,343,000. Nykredit A S purchased a new stake in Concentrix in the 2nd quarter worth approximately $29,000. Susquehanna Fundamental Investments LLC boosted its position in Concentrix by 294.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 200,006 shares of the company's stock worth $4,481,000 after purchasing an additional 149,263 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in shares of Concentrix by 32.7% during the 2nd quarter. Hsbc Holdings PLC now owns 108,186 shares of the company's stock worth $2,424,000 after purchasing an additional 26,682 shares during the period. Hedge funds and other institutional investors own 90.34% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on CNXC shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Concentrix in a research note on Friday, July 24th. Robert W. Baird cut their price objective on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Zacks Research upgraded shares of Concentrix from a "strong sell" rating to a "hold" rating in a research report on Monday, August 31st. Barrington Research decreased their price objective on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, June 30th. Finally, Bank of America lowered their target price on shares of Concentrix from $32.00 to $26.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Concentrix currently has an average rating of "Hold" and a consensus price target of $32.75.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $27.53 on Tuesday. The firm has a market cap of $1.68 billion, a PE ratio of -1.29, a PEG ratio of 0.51 and a beta of 0.47. The firm has a fifty day moving average of $26.59 and a 200 day moving average of $26.77. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.18 and a current ratio of 1.18. Concentrix Corporation has a one year low of $19.12 and a one year high of $57.29.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing analysts' consensus estimates of $2.64 by ($0.01). Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.47 billion. During the same period in the prior year, the firm earned $2.70 EPS. The firm's revenue for the quarter was up 1.9% on a year-over-year basis. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. As a group, research analysts predict that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.2%. Concentrix's dividend payout ratio is presently -6.75%.

Concentrix Company Profile

Concentrix Corporation is a global technology and services company that helps organizations manage customer experience, business operations and digital transformation. Its offerings include customer care, technical support, sales and marketing services, back-office support, analytics, artificial intelligence and automation solutions.

The company serves clients across industries such as technology and consumer electronics, retail, banking and financial services, healthcare, communications and media, travel, and automotive.

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