Hsbc Holdings PLC Has $3.16 Million Stake in Concentrix Corporation $CNXC

Key Points

• Hsbc Holdings PLC increased its stake in Concentrix Corporation by 14.3%, owning a total of $3.16 million worth of shares as of the end of the quarter.
• Concentrix reported EPS of $2.70 for the last quarter, falling short of the estimated $2.76, while revenues also exceeded expectations at $2.42 billion.
• The company recently declared a quarterly dividend of $0.3328 per share, reflecting an annualized yield of 2.7%.

Hsbc Holdings PLC increased its holdings in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 14.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,747 shares of the company's stock after buying an additional 7,114 shares during the quarter. Hsbc Holdings PLC owned 0.09% of Concentrix worth $3,157,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. UMB Bank n.a. grew its stake in Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after purchasing an additional 217 shares in the last quarter. First Horizon Advisors Inc. grew its stake in Concentrix by 111.8% in the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after purchasing an additional 444 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Concentrix by 47.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock valued at $84,000 after purchasing an additional 483 shares in the last quarter. Fifth Third Bancorp grew its stake in Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after purchasing an additional 548 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Concentrix by 582.5% in the first quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock valued at $117,000 after purchasing an additional 1,800 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company's stock.

Concentrix Stock Performance

Shares of NASDAQ CNXC traded up $2.40 during trading hours on Friday, hitting $52.76. 858,690 shares of the company's stock were exchanged, compared to its average volume of 649,639. Concentrix Corporation has a 1-year low of $36.28 and a 1-year high of $76.95. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.67 and a beta of 0.53. The company's 50-day moving average price is $53.46 and its 200-day moving average price is $51.56.

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 firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company earned $2.69 EPS. The company's 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. On average, sell-side analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were given a dividend of $0.3328 per share. 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 36.54%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CNXC shares. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Bank of America decreased their price target on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, June 27th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price target on shares of Concentrix in a research note on Monday, June 30th. Barrington Research reiterated an "outperform" rating and set a $54.00 price target on shares of Concentrix in a research note on Tuesday, June 24th. Finally, Robert W. Baird upped their price target on Concentrix from $62.00 to $72.00 and gave the stock 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $66.75.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the sale, the executive vice president directly owned 37,130 shares in the company, valued at $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 available at the SEC website. 3.20% of the stock is currently owned by company insiders.

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.