Empowered Funds LLC Acquires New Position in Concentrix Corporation $CNXC

Key Points

• Empowered Funds LLC acquired 329,042 Concentrix shares worth approximately $7.4 million, representing 0.54% of the company. Institutional investors and hedge funds collectively own 90.34% of CNXC.
• Concentrix narrowly missed quarterly earnings and revenue expectations, reporting $2.63 in EPS and $2.46 billion in revenue, although revenue increased 1.9% year over year.
• Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $32.75; the company also offers a quarterly dividend of $0.36 per share, for an annualized yield of about 4.9%.

Empowered Funds LLC bought a new position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 329,042 shares of the company's stock, valued at approximately $7,372,000. Empowered Funds LLC owned 0.54% of Concentrix at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of Concentrix by 9.5% during the 1st quarter. Royal Bank of Canada now owns 47,501 shares of the company's stock worth $2,643,000 after buying an additional 4,133 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Concentrix by 75.1% in the first quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company's stock valued at $23,552,000 after acquiring an additional 181,546 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Concentrix by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company's stock valued at $8,152,000 after acquiring an additional 21,746 shares during the last quarter. Focus Partners Wealth purchased a new position in Concentrix in the first quarter worth approximately $781,000. Finally, Geneos Wealth Management Inc. grew its position in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after acquiring an additional 522 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $29.38 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.46. The business's 50 day moving average is $24.62 and its two-hundred day moving average is $27.07. Concentrix Corporation has a 52-week low of $19.12 and a 52-week high of $57.88. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -1.38, a PEG ratio of 0.54 and a beta of 0.45.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings results on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.47 billion. During the same quarter in the prior year, the business earned $2.70 earnings per share. The company's quarterly revenue 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. Research analysts predict that Concentrix Corporation will post 9.67 EPS for the current year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th were paid a dividend of $0.36 per share. The ex-dividend date was Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 4.9%. Concentrix's dividend payout ratio is -6.75%.

Wall Street Analyst Weigh In

A number of research firms have commented on CNXC. Barrington Research reduced their target price on Concentrix from $38.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, June 30th. Bank of America lowered their price target on Concentrix from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Weiss Ratings reissued a "sell (d)" rating on shares of Concentrix in a research report on Friday, July 24th. Robert W. Baird reduced their price objective on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating on the stock in a report on Tuesday, June 30th. Finally, Canaccord Genuity Group decreased their target price on shares of Concentrix from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $32.75.

About Concentrix

Concentrix Inc NASDAQ: CNXC is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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