OMERS ADMINISTRATION Corp Invests $1.34 Million in Concentrix Corporation $CNXC

Key Points

• OMERS ADMINISTRATION Corp has acquired a new stake in Concentrix Corporation, purchasing 24,100 shares valued at approximately $1.34 million during the first quarter.
• Concentrix recently reported a quarterly earnings miss, posting earnings per share of $2.70 against a consensus estimate of $2.76, despite a revenue increase of 1.5% year-over-year.
• The company declared a quarterly dividend of $0.3328 per share, representing an annual yield of 2.5%, with a payout ratio of 36.54%.

OMERS ADMINISTRATION Corp bought a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 24,100 shares of the company's stock, valued at approximately $1,341,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Ieq Capital LLC purchased a new position in Concentrix during the first quarter worth approximately $9,380,000. FORA Capital LLC purchased a new position in Concentrix during the first quarter worth approximately $462,000. Jump Financial LLC lifted its position in Concentrix by 40.8% during the first quarter. Jump Financial LLC now owns 122,394 shares of the company's stock worth $6,810,000 after buying an additional 35,479 shares in the last quarter. AlphaQuest LLC lifted its position in Concentrix by 18.7% during the first quarter. AlphaQuest LLC now owns 7,404 shares of the company's stock worth $412,000 after buying an additional 1,166 shares in the last quarter. Finally, Kaufman Rossin Wealth LLC purchased a new position in Concentrix during the first quarter worth approximately $362,000. Hedge funds and other institutional investors own 90.34% of the company's stock.

Insider Buying and Selling

In related news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total transaction of $28,955.00. Following the completion of the transaction, the executive vice president directly owned 37,130 shares of the company's stock, 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 SEC, which is available through this hyperlink. 3.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on CNXC shares. Robert W. Baird lifted their price objective on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 price objective on shares of Concentrix in a research report on Monday, June 30th. Barrington Research reissued an "outperform" rating and set a $54.00 target price on shares of Concentrix in a research note on Tuesday, June 24th. Bank of America cut 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. Finally, Wall Street Zen cut Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $66.75.

Concentrix Trading Up 2.6%

Shares of NASDAQ CNXC traded up $1.36 during trading on Friday, reaching $53.82. The stock had a trading volume of 614,358 shares, compared to its average volume of 578,521. Concentrix Corporation has a fifty-two week low of $36.28 and a fifty-two week high of $74.32. The company has a market cap of $3.39 billion, a P/E ratio of 14.79, a PEG ratio of 0.72 and a beta of 0.53. 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 50-day moving average price is $53.38 and its 200-day moving average price is $51.74.

Concentrix (NASDAQ:CNXC - Get Free Report) last released its earnings results on Thursday, June 26th. The company reported $2.70 EPS 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 period in the previous year, the firm earned $2.69 earnings per share. The company's revenue for the quarter 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. On average, equities research analysts predict that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

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