Nuveen LLC Takes $8.58 Million Position in Concentrix Corporation $CNXC

Key Points

• Nuveen LLC has invested $8.58 million in Concentrix Corporation, acquiring 154,108 shares, representing about 0.24% of the company's total shares.
• Several institutional investors have significantly increased their positions in Concentrix during the first quarter, indicating strong interest, with 90.34% of the company's stock now held by such investors.
• Concentrix reported earnings per share of $2.70 for the last quarter, falling short of analyst expectations, despite a year-over-year revenue increase of 1.5%.

Nuveen LLC acquired a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 154,108 shares of the company's stock, valued at approximately $8,575,000. Nuveen LLC owned approximately 0.24% of Concentrix at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in Concentrix by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company's stock valued at $9,213,000 after acquiring an additional 12,162 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Concentrix by 761.3% in the first quarter. GAMMA Investing LLC now owns 2,446 shares of the company's stock valued at $136,000 after buying an additional 2,162 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Concentrix in the fourth quarter valued at about $294,000. 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 valued at $114,000 after buying an additional 548 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Concentrix in the first quarter valued at about $495,000. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Price Performance

CNXC traded down $0.31 on Thursday, hitting $50.49. 229,774 shares of the company were exchanged, compared to its average volume of 789,494. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61. The business's fifty day moving average is $53.46 and its 200 day moving average is $51.51. Concentrix Corporation has a fifty-two week low of $36.28 and a fifty-two week high of $76.95. The firm has a market capitalization of $3.18 billion, a P/E ratio of 13.83, a price-to-earnings-growth ratio of 0.67 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 for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter in the previous year, the company posted $2.69 earnings per share. The company's quarterly revenue was up 1.5% compared to the same quarter last year. 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 anticipate that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were given a dividend of $0.3328 per share. This represents a $1.33 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, July 25th. Concentrix's dividend payout ratio is presently 36.54%.

Insiders Place Their Bets

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the company'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 approximately $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 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 commented on CNXC. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $80.00 target price on shares of Concentrix in a report on Monday, June 30th. Robert W. Baird upped their target price on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Wall Street Zen cut shares of Concentrix from a "buy" rating to a "hold" rating in a report on Saturday, June 21st. Bank of America reduced their target price on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, June 27th. Finally, Barrington Research reaffirmed an "outperform" rating and issued a $54.00 target price on shares of Concentrix in a report 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's stock. According to data from MarketBeat.com, Concentrix presently has a consensus rating of "Buy" and an average price target of $66.75.

Concentrix 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.