Kaufman Rossin Wealth LLC Purchases New Holdings in Concentrix Corporation $CNXC

Key Points

• Kaufman Rossin Wealth LLC purchased 6,515 shares of Concentrix Corporation (NASDAQ: CNXC) valued at approximately $362,000 in the first quarter, reflecting growing institutional interest in the company.
• Concentrix's recent quarterly earnings showed missed EPS expectations at $2.70, falling short of the $2.76 consensus, although revenue was slightly above expectations at $2.42 billion.
• The company has a quarterly dividend of $0.3328, which represents an annualized yield of 2.7% and a payout ratio of 36.54%.

Kaufman Rossin Wealth LLC acquired a new position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 6,515 shares of the company's stock, valued at approximately $362,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CNXC. UMB Bank n.a. raised its holdings in Concentrix by 47.3% during the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after purchasing an additional 217 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Concentrix by 111.8% in the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after acquiring an additional 444 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of 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. Quarry LP raised its holdings in shares of Concentrix by 843.9% in the fourth quarter. Quarry LP now owns 2,539 shares of the company's stock worth $110,000 after acquiring an additional 2,270 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in shares of Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock worth $114,000 after acquiring an additional 548 shares during the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the company's stock in a transaction dated 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 owned 37,130 shares of the company's stock, valued at $2,150,198.30. This represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.20% of the stock is owned by insiders.

Concentrix Trading Down 2.1%

CNXC stock traded down $1.06 during trading on Tuesday, reaching $50.19. 239,940 shares of the stock traded hands, compared to its average volume of 790,898. The business's 50 day moving average price is $53.62 and its 200-day moving average price is $51.52. Concentrix Corporation has a 52-week low of $36.28 and a 52-week high of $77.00. 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 firm has a market capitalization of $3.16 billion, a PE ratio of 13.80, a P/E/G ratio of 0.69 and a beta of 0.53.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its 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). Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The company had revenue of $2.42 billion during the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the previous year, the company earned $2.69 EPS. Concentrix's quarterly 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. As a group, sell-side analysts forecast that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were given a $0.3328 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.7%. Concentrix's dividend payout ratio is presently 36.54%.

Analysts Set New Price Targets

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

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.