168,582 Shares in Concentrix Corporation $CNXC Purchased by Ieq Capital LLC

Key Points

• Ieq Capital LLC acquired 168,582 shares of Concentrix Corporation valued at approximately $9.38 million, representing 0.26% ownership as of their latest filing with the SEC.
• Concentrix reported earnings per share (EPS) of $2.70 for the last quarter, which fell short of analysts' expectations of $2.76, while its revenue rose by 1.5% compared to the previous year.
• The company recently announced a quarterly dividend of $0.3328 per share, yielding 2.6%, with a dividend payout ratio of 36.54%.

Ieq Capital LLC purchased a new stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 168,582 shares of the company's stock, valued at approximately $9,380,000. Ieq Capital LLC owned 0.26% of Concentrix as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CNXC. UMB Bank n.a. grew its stake in Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after purchasing an additional 217 shares in the last quarter. First Horizon Advisors Inc. increased its stake in shares of Concentrix by 111.8% during the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after buying an additional 444 shares during the period. American Century Companies Inc. raised its holdings in Concentrix by 3.8% in the first quarter. American Century Companies Inc. now owns 12,942 shares of the company's stock valued at $720,000 after acquiring an additional 476 shares in the last quarter. PNC Financial Services Group Inc. lifted 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 worth $84,000 after acquiring an additional 483 shares during the last quarter. Finally, Fifth Third Bancorp grew its holdings in 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 acquiring an additional 548 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on CNXC shares. Bank of America lowered their price target on Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. Robert W. Baird lifted 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. Wall Street Zen lowered shares of Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a research report on Monday, June 30th. Finally, Barrington Research reiterated an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a research note on Tuesday, June 24th. 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 company presently has an average rating of "Buy" and a consensus price target of $66.75.

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction on Wednesday, July 30th. The stock was 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 directly owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. This trade represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 3.20% of the company's stock.

Concentrix Stock Down 2.9%

NASDAQ:CNXC traded down $1.51 during trading hours on Tuesday, hitting $51.25. 216,406 shares of the company's stock traded hands, compared to its average volume of 787,827. The firm has a market cap of $3.23 billion, a P/E ratio of 14.07, a P/E/G ratio of 0.70 and a beta of 0.53. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $76.11. The stock's fifty day moving average price is $53.48 and its two-hundred day moving average price is $51.64.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The company's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm 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, research analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were given a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, July 25th. 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.