First Trust Advisors LP Raises Holdings in Concentrix Corporation $CNXC

First Trust Advisors LP boosted its position in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 11.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 895,118 shares of the company's stock after acquiring an additional 89,220 shares during the quarter. First Trust Advisors LP owned 1.47% of Concentrix worth $24,490,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CNXC. Osaic Holdings Inc. increased its stake in Concentrix by 13.4% during the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company's stock worth $118,000 after acquiring an additional 263 shares during the last quarter. State of Wyoming lifted its stake in shares of Concentrix by 6.2% in the 4th quarter. State of Wyoming now owns 5,029 shares of the company's stock valued at $209,000 after purchasing an additional 293 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Concentrix by 4.7% during the 4th quarter. Deutsche Bank AG now owns 6,767 shares of the company's stock worth $281,000 after purchasing an additional 303 shares during the period. Brevan Howard Capital Management LP grew its holdings in shares of Concentrix by 4.5% during the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company's stock worth $473,000 after purchasing an additional 384 shares during the period. Finally, California State Teachers Retirement System increased its position in Concentrix by 1.1% during the 2nd quarter. California State Teachers Retirement System now owns 36,387 shares of the company's stock worth $1,923,000 after purchasing an additional 384 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

Analysts Set New Price Targets

CNXC has been the topic of several research reports. Zacks Research lowered shares of Concentrix from a "hold" rating to a "strong sell" rating in a report on Thursday, July 2nd. Barrington Research dropped 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. Robert W. Baird cut their target price on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating on the stock in a research note on Tuesday, June 30th. Bank of America reduced their target price on shares of Concentrix from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Finally, Canaccord Genuity Group decreased their price target on shares of Concentrix from $55.00 to $45.00 and set a "buy" rating for the company in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $32.75.

Concentrix Trading Up 3.5%

CNXC opened at $25.41 on Wednesday. The firm's 50 day moving average is $25.08 and its 200-day moving average is $29.49. Concentrix Corporation has a 52-week low of $19.12 and a 52-week high of $59.92. 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 firm has a market capitalization of $1.55 billion, a P/E ratio of -1.19, a P/E/G ratio of 0.45 and a beta of 0.47.

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

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th will be issued a $0.36 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 5.7%. Concentrix's payout ratio is currently -6.75%.

Concentrix Company Profile

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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