Concentrix Corporation $CNXC Shares Sold by Quantbot Technologies LP

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 lowered its stake in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 67.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its position in Concentrix by 6.2% during the first quarter. Northern Trust Corp now owns 522,746 shares of the company's stock valued at $29,086,000 after purchasing an additional 30,527 shares in the last quarter. Raymond James Financial Inc. boosted its position in Concentrix by 15.5% during the first quarter. Raymond James Financial Inc. now owns 126,905 shares of the company's stock valued at $7,061,000 after purchasing an additional 17,072 shares in the last quarter. Tyler Stone Wealth Management bought a new stake in Concentrix during the first quarter valued at about $1,869,000. American Century Companies Inc. boosted its position in Concentrix by 3.8% during the first quarter. American Century Companies Inc. now owns 12,942 shares of the company's stock valued at $720,000 after purchasing an additional 476 shares in the last quarter. Finally, Boston Partners boosted its position in Concentrix by 17.1% during the first quarter. Boston Partners now owns 624,274 shares of the company's stock valued at $33,991,000 after purchasing an additional 91,130 shares in the last quarter. Institutional investors own 90.34% of the company's stock.

Concentrix Stock Performance

Shares of Concentrix stock traded down $0.30 on Thursday, reaching $50.50. 254,395 shares of the stock were exchanged, compared to its average volume of 789,647. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $76.95. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.88, a PEG ratio of 0.67 and a beta of 0.53. The business has a 50 day moving average price of $53.46 and a two-hundred day moving average price of $51.51.

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 analysts' consensus estimates of $2.76 by ($0.06). Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the firm earned $2.69 EPS. 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. Analysts anticipate that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were issued 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 dividend yield of 2.6%. Concentrix's payout ratio is 36.54%.

Insider Activity at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of Concentrix stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CNXC shares. Wall Street Zen downgraded Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. 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. Canaccord Genuity Group reissued a "buy" rating and issued a $80.00 price target on shares of Concentrix in a report on Monday, June 30th. Barrington Research reissued an "outperform" rating and issued a $54.00 price target on shares of Concentrix in a report on Tuesday, June 24th. Finally, Bank of America lowered their price target on Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a report on Friday, June 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus 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.