11,983 Shares in Concentrix Corporation $CNXC Acquired by Focus Partners Advisor Solutions LLC

Key Points

• Focus Partners Advisor Solutions LLC has acquired 11,983 shares of Concentrix Corporation, valued at approximately $667,000, as part of their investment strategy.
• Concentrix announced a quarterly dividend of $0.3328, representing an annualized yield of 2.5%, with a payout ratio of 36.54%.
• Recent performance reports showed that Concentrix's EPS for the last quarter was $2.70, missing analysts' expectations by $0.06, despite a year-over-year revenue increase of 1.5%.

Focus Partners Advisor Solutions LLC purchased a new position in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,983 shares of the company's stock, valued at approximately $667,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNXC. Millennium Management LLC grew its position in Concentrix by 232.9% in the fourth quarter. Millennium Management LLC now owns 578,700 shares of the company's stock worth $25,040,000 after acquiring an additional 404,885 shares in the last quarter. Deprince Race & Zollo Inc. boosted its position in shares of Concentrix by 55.3% during the fourth quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock valued at $43,665,000 after buying an additional 359,476 shares during the period. Man Group plc boosted its position in shares of Concentrix by 6,212.9% during the fourth quarter. Man Group plc now owns 355,670 shares of the company's stock valued at $15,390,000 after buying an additional 350,036 shares during the period. Gotham Asset Management LLC boosted its position in shares of Concentrix by 2,087.2% during the fourth quarter. Gotham Asset Management LLC now owns 251,900 shares of the company's stock valued at $10,900,000 after buying an additional 240,383 shares during the period. Finally, Invenomic Capital Management LP boosted its position in shares of Concentrix by 41.1% during the fourth quarter. Invenomic Capital Management LP now owns 666,433 shares of the company's stock valued at $28,837,000 after buying an additional 194,190 shares during the period. Hedge funds and other institutional investors own 90.34% of the company's stock.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction dated Wednesday, July 30th. The shares were 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 represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.20% of the company's stock.

Concentrix Stock Performance

Shares of CNXC traded up $1.36 during trading hours on Friday, reaching $53.82. 614,358 shares of the company traded hands, compared to its average volume of 576,874. The stock has a market capitalization of $3.39 billion, a P/E ratio of 5.20, a P/E/G ratio of 0.72 and a beta of 0.53. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $74.32. The business has a fifty day moving average price of $53.38 and a 200-day moving average price of $51.74.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing the consensus estimate of $2.76 by ($0.06). Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the previous year, the company posted $2.69 earnings per share. Concentrix's revenue for the quarter 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. Equities analysts anticipate that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were issued a $0.3328 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. Concentrix's dividend payout ratio is presently 36.54%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wall Street Zen lowered Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Barrington Research reaffirmed an "outperform" rating and set a $54.00 price target on shares of Concentrix in a research note on Tuesday, June 24th. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 price target on shares of Concentrix in a research note on Monday, June 30th. Bank of America decreased their price target on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, June 27th. Finally, Robert W. Baird lifted their price target on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. One equities research 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's stock. According to MarketBeat, Concentrix presently has an average rating of "Buy" and an average 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.