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 shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 154,108 shares of the company's stock, valued at approximately $8,575,000. Nuveen LLC owned approximately 0.24% of Concentrix as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of CNXC. Alyeska Investment Group L.P. acquired a new stake in Concentrix during the 4th quarter valued at approximately $21,123,000. Millennium Management LLC grew its stake in 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 purchasing an additional 404,885 shares in the last quarter. Deprince Race & Zollo Inc. grew its stake in 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 purchasing an additional 359,476 shares in the last quarter. Man Group plc grew its position in shares of Concentrix by 6,212.9% in the 4th quarter. Man Group plc now owns 355,670 shares of the company's stock worth $15,390,000 after acquiring an additional 350,036 shares in the last quarter. Finally, Gotham Asset Management LLC grew its position in shares of Concentrix by 2,087.2% in the 4th quarter. Gotham Asset Management LLC now owns 251,900 shares of the company's stock worth $10,900,000 after acquiring an additional 240,383 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Insider Buying and Selling at Concentrix

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the business'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. The trade was 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 corporate insiders.

Concentrix Price Performance

Shares of CNXC stock traded up $2.40 during mid-day trading on Friday, hitting $52.76. 858,690 shares of the stock traded hands, compared to its average volume of 649,639. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $76.95. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 0.67 and a beta of 0.53. The company's 50-day simple moving average is $53.46 and its 200-day simple moving average is $51.56. 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 (NASDAQ:CNXC - Get Free Report) last issued its earnings results 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 company had revenue of $2.42 billion during 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 business's revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous 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 research analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were given a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. Concentrix's dividend payout ratio (DPR) is presently 36.54%.

Analysts Set New Price Targets

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