Kaufman Rossin Wealth LLC Makes New Investment 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 stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 6,515 shares of the company's stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CNXC. Fuller & Thaler Asset Management Inc. increased its stake in Concentrix by 38.1% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 2,981,227 shares of the company's stock valued at $128,998,000 after purchasing an additional 823,228 shares in the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Concentrix during the 4th quarter valued at about $21,123,000. Millennium Management LLC boosted its holdings in shares of Concentrix by 232.9% during the 4th quarter. Millennium Management LLC now owns 578,700 shares of the company's stock valued at $25,040,000 after acquiring an additional 404,885 shares during the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Concentrix by 55.3% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,009,133 shares of the company's stock valued at $43,665,000 after acquiring an additional 359,476 shares during the last quarter. Finally, Man Group plc boosted its holdings in shares of Concentrix by 6,212.9% during the 4th quarter. Man Group plc now owns 355,670 shares of the company's stock valued at $15,390,000 after acquiring an additional 350,036 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Cormac J. Twomey sold 500 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total value of $28,955.00. Following the transaction, the executive vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CNXC. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Canaccord Genuity Group reaffirmed a "buy" rating and set a $80.00 price target on shares of Concentrix in a report on Monday, June 30th. Barrington Research reaffirmed an "outperform" rating and set a $54.00 price target on shares of Concentrix in a report on Tuesday, June 24th. Bank of America dropped their price target on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. Finally, Robert W. Baird raised their price target on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. One 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $66.75.

Concentrix Stock Performance

Shares of CNXC traded up $2.43 on Friday, reaching $52.07. The company's stock had a trading volume of 783,905 shares, compared to its average volume of 643,305. 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 $3.28 billion, a P/E ratio of 14.30, a PEG ratio of 0.69 and a beta of 0.53. The stock's 50 day simple moving average is $53.76 and its two-hundred day simple moving average is $51.48. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $77.00.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Thursday, June 26th. The company reported $2.70 earnings per share (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 analysts' expectations of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $2.69 EPS. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. Research analysts forecast that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were issued a $0.3328 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.6%. Concentrix's dividend payout ratio (DPR) is presently 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.