8,308 Shares in Concentrix Corporation $CNXC Acquired by FORA Capital LLC

Key Points

• FORA Capital LLC has acquired a new stake in Concentrix Corporation, purchasing 8,308 shares valued at approximately $462,000 during the first quarter.
• Wall Street analysts have mixed opinions on Concentrix, with ratings ranging from "Strong Buy" to "Hold," while the consensus rating is "Buy" with an average target price of $66.75.
• Concentrix recently announced a quarterly dividend of $0.3328 per share, yielding 2.6%, with a payout ratio of 36.54%.

FORA Capital LLC bought a new stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,308 shares of the company's stock, valued at approximately $462,000.

Other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. raised its holdings in shares of Concentrix by 7.9% during the first quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company's stock valued at $9,213,000 after acquiring an additional 12,162 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Concentrix by 761.3% during the first quarter. GAMMA Investing LLC now owns 2,446 shares of the company's stock valued at $136,000 after acquiring an additional 2,162 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Concentrix during the 4th quarter worth approximately $294,000. Fifth Third Bancorp boosted its holdings in shares of Concentrix by 36.5% during the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after purchasing an additional 548 shares during the last quarter. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Concentrix in the first quarter valued at approximately $495,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Stock Performance

CNXC traded down $0.97 during trading on Tuesday, hitting $51.80. 334,995 shares of the stock were exchanged, compared to its average volume of 788,651. The firm has a market capitalization of $3.26 billion, a P/E ratio of 14.18, a PEG ratio of 0.70 and a beta of 0.53. Concentrix Corporation has a 1-year low of $36.28 and a 1-year high of $76.11. The stock has a fifty day moving average price of $53.48 and a two-hundred day moving average price of $51.64. 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 (NASDAQ:CNXC - Get Free Report) last released 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 return on equity of 16.31% and a net margin of 2.54%.The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm earned $2.69 EPS. The company's quarterly revenue was up 1.5% on a year-over-year basis. 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 predict that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CNXC shares. Robert W. Baird increased their price target on Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $80.00 price target on shares of Concentrix in a report on Monday, June 30th. Bank of America cut their price target on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, June 27th. Wall Street Zen cut Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Finally, Barrington Research restated an "outperform" rating and set a $54.00 price target on shares of Concentrix in a report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Concentrix presently has an average rating of "Buy" and an average target price of $66.75.

Insider Activity

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total transaction of $28,955.00. Following the completion of the sale, the executive vice president directly owned 37,130 shares in the company, valued at approximately $2,150,198.30. This trade 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 Company Profile

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.