Concentrix Corporation $CNXC Shares Sold by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. reduced its stake in Concentrix Corporation by 18.0%, owning 2,443,862 shares valued at approximately $135.98 million as of its latest SEC filing.
• Concentrix Corporation's recent quarterly earnings report indicated that it missed its earnings per share estimates, reporting $2.70 against a forecast of $2.76, while achieving a revenue of $2.42 billion.
• The company declared a quarterly dividend of $0.3328 per share, resulting in an annualized dividend of $1.33 and a dividend yield of 2.8%.

Fuller & Thaler Asset Management Inc. cut its position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 18.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,443,862 shares of the company's stock after selling 537,365 shares during the period. Fuller & Thaler Asset Management Inc. owned 3.83% of Concentrix worth $135,976,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CNXC. Envestnet Asset Management Inc. boosted its holdings in Concentrix by 38.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 153,419 shares of the company's stock worth $6,638,000 after buying an additional 42,795 shares in the last quarter. Invesco Ltd. lifted its holdings in Concentrix by 138.6% during the fourth quarter. Invesco Ltd. now owns 402,457 shares of the company's stock valued at $17,414,000 after purchasing an additional 233,765 shares in the last quarter. Legal & General Group Plc lifted its holdings in Concentrix by 1.5% during the fourth quarter. Legal & General Group Plc now owns 115,217 shares of the company's stock valued at $4,985,000 after purchasing an additional 1,697 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Concentrix during the fourth quarter valued at $4,752,000. Finally, Sterling Capital Management LLC lifted its holdings in Concentrix by 49.7% during the fourth quarter. Sterling Capital Management LLC now owns 2,817 shares of the company's stock valued at $122,000 after purchasing an additional 935 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total transaction of $28,955.00. Following the transaction, the executive vice president directly owned 37,130 shares of the company's stock, valued at $2,150,198.30. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Concentrix Price Performance

Shares of NASDAQ:CNXC traded up $2.43 during midday trading on Friday, hitting $52.07. The company's stock had a trading volume of 783,882 shares, compared to its average volume of 796,385. The business's 50 day simple moving average is $53.82 and its 200 day simple moving average is $51.44. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. The company has a market cap of $3.28 billion, a P/E ratio of 14.30, a price-to-earnings-growth ratio of 0.66 and a beta of 0.53. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share for the quarter, missing the consensus estimate of $2.76 by ($0.06). The business had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The business's quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.69 earnings per share. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. On average, analysts forecast that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were paid a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.6%. Concentrix's payout ratio is 36.54%.

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.