Quantbot Technologies LP Has $1.04 Million Position in Concentrix Corporation $CNXC

Key Points

• Quantbot Technologies LP has reduced its stake in Concentrix Corporation by 67.4%, selling 38,409 shares and retaining 18,593 shares, valued at approximately $1,035,000 as of the end of the first quarter.
• Concentrix reported a missed earnings estimate in its last quarterly results, with an EPS of $2.70, lower than the consensus estimate of $2.76, despite a year-over-year revenue growth of 1.5%.
• The company's recent dividend declaration of $0.3328 per share represents a 2.6% yield and aligns with a dividend payout ratio of 36.54%.

Quantbot Technologies LP trimmed its position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 67.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,593 shares of the company's stock after selling 38,409 shares during the quarter. Quantbot Technologies LP's holdings in Concentrix were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Northern Trust Corp lifted its holdings in shares of Concentrix by 6.2% during the 1st quarter. Northern Trust Corp now owns 522,746 shares of the company's stock valued at $29,086,000 after buying an additional 30,527 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Concentrix by 15.5% during the 1st quarter. Raymond James Financial Inc. now owns 126,905 shares of the company's stock valued at $7,061,000 after buying an additional 17,072 shares during the last quarter. Tyler Stone Wealth Management acquired a new stake in shares of Concentrix during the 1st quarter valued at about $1,869,000. American Century Companies Inc. lifted its holdings in shares of Concentrix by 3.8% during the 1st quarter. American Century Companies Inc. now owns 12,942 shares of the company's stock valued at $720,000 after buying an additional 476 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Concentrix by 17.1% during the 1st quarter. Boston Partners now owns 624,274 shares of the company's stock valued at $33,991,000 after buying an additional 91,130 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Performance

NASDAQ CNXC traded up $2.40 during trading on Friday, hitting $52.76. The company's stock had a trading volume of 858,690 shares, compared to its average volume of 649,639. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14. The firm has a 50 day moving average price of $53.46 and a 200 day moving average price of $51.56. The firm has a market cap of $3.33 billion, a P/E ratio of 14.49, a price-to-earnings-growth ratio of 0.67 and a beta of 0.53. Concentrix Corporation has a 52 week low of $36.28 and a 52 week high of $76.95.

Concentrix (NASDAQ:CNXC - Get Free Report) last released 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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. The business's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $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. Equities research analysts forecast that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were paid a $0.3328 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 annualized dividend and a yield of 2.5%. Concentrix's payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Robert W. Baird lifted their price target on Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Barrington Research reissued an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a research note on Tuesday, June 24th. Bank of America cut their price objective on Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a research note on Friday, June 27th. Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a research note on Monday, June 30th. Finally, Wall Street Zen downgraded 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 assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $66.75.

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 value of $28,955.00. Following 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

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.