Groupe Bruxelles Lambert Takes $68 Million Position in Concentrix Corporation $CNXC

Key Points

• Groupe Bruxelles Lambert acquired 2.77 million Concentrix shares worth approximately $68 million, giving it a 4.55% stake and making Concentrix its entire reported portfolio.
• Concentrix shares traded near $23.33, down substantially from their 52-week high of $57.88. The company narrowly missed quarterly earnings and revenue estimates, while analysts maintain a consensus “Hold” rating with an average price target of $32.75.
• The company pays a quarterly dividend of $0.36, or $1.44 annually, implying a 6.2% yield at the reported share price.

Groupe Bruxelles Lambert acquired a new position in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 2,773,667 shares of the company's stock, valued at approximately $68,000,000. Concentrix comprises approximately 100.0% of Groupe Bruxelles Lambert's portfolio, making the stock its biggest holding. Groupe Bruxelles Lambert owned 4.55% of Concentrix as of its most recent filing with the Securities and Exchange Commission.

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

Concentrix Price Performance

NASDAQ:CNXC traded down $1.16 during trading hours on Monday, hitting $23.33. 1,201,143 shares of the stock were exchanged, compared to its average volume of 1,612,709. The firm's fifty day moving average price is $24.61 and its 200 day moving average price is $27.94. Concentrix Corporation has a 52-week low of $19.12 and a 52-week high of $57.88. The company has a market cap of $1.42 billion, a P/E ratio of -1.09, a P/E/G ratio of 0.45 and a beta of 0.45. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.46.

Concentrix (NASDAQ:CNXC - Get Free Report) last released 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). Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The firm had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.47 billion. During the same quarter last year, the business earned $2.70 EPS. The business's revenue was up 1.9% compared to the same quarter last year. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. As a group, equities research analysts anticipate that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were given a $0.36 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.2%. Concentrix's dividend payout ratio is -6.75%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Zacks Research lowered Concentrix from a "hold" rating to a "strong sell" rating in a research note on Thursday, July 2nd. Barrington Research decreased their price target on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Bank of America decreased their target price 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 restated a "sell (d)" rating on shares of Concentrix in a research note on Friday, July 24th. Finally, Robert W. Baird dropped 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. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $32.75.

View Our Latest Analysis on Concentrix

Concentrix Profile

(Free Report)

 

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.

 

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source