Jump Financial LLC Has $6.81 Million Stock Position in Concentrix Corporation $CNXC

Key Points

• Jump Financial LLC increased its stake in Concentrix Corporation by 40.8% during the 1st quarter, owning approximately 0.19% of the company worth $6.81 million.
• Concentrix's recent quarterly earnings miss the consensus estimate, reporting $2.70 EPS compared to an expected $2.76, but the company's revenue exceeded analyst predictions at $2.42 billion.
• A quarterly dividend of $0.3328 per share was recently paid to shareholders, resulting in an annualized yield of 2.6% with a payout ratio of 36.54%.

Jump Financial LLC lifted its position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 40.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 122,394 shares of the company's stock after purchasing an additional 35,479 shares during the quarter. Jump Financial LLC owned 0.19% of Concentrix worth $6,810,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. lifted its position in Concentrix by 47.3% in the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Concentrix by 111.8% in the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after acquiring an additional 444 shares in the last quarter. American Century Companies Inc. lifted its position in Concentrix by 3.8% in the 1st 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 position in Concentrix by 47.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock valued at $84,000 after acquiring an additional 483 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in Concentrix by 36.5% in the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after acquiring an additional 548 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the business's 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 in the company, valued at $2,150,198.30. The trade was a 1.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Concentrix Stock Performance

Shares of Concentrix stock traded up $2.29 during trading on Friday, hitting $52.65. 650,180 shares of the stock were exchanged, compared to its average volume of 789,687. The stock has a market capitalization of $3.32 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.68 and a beta of 0.53. The company has a fifty day moving average price of $53.41 and a 200-day moving average price of $51.53. Concentrix Corporation has a 1-year low of $36.28 and a 1-year high of $76.95. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The firm's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $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. As a group, equities analysts predict that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were paid a dividend of $0.3328 per share. The ex-dividend date was Friday, July 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.5%. Concentrix's payout ratio is currently 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.