Scientech Research LLC Buys 7,797 Shares of Concentrix Corporation $CNXC

Key Points

• Scientech Research LLC has increased its holdings in Concentrix Corporation by 121.5%, acquiring an additional 7,797 shares during the first quarter, bringing its total ownership to 14,215 shares valued at approximately $791,000.
• Concentrix's quarterly earnings report revealed an EPS of $2.70, which missed analysts' expectations of $2.76, despite reporting revenues of $2.42 billion that exceeded the $2.38 billion estimate.
• The company announced a quarterly dividend of $0.3328 per share, translating to an annualized dividend of $1.33 and a yield of 2.5%, with a current dividend payout ratio of 36.54%.

Scientech Research LLC lifted its position in Concentrix Corporation (NASDAQ:CNXC - Free Report) by 121.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,215 shares of the company's stock after acquiring an additional 7,797 shares during the period. Scientech Research LLC's holdings in Concentrix were worth $791,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. UMB Bank n.a. raised its position in shares of Concentrix by 47.3% in the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares during the period. First Horizon Advisors Inc. raised its position in shares of Concentrix by 111.8% in the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after acquiring an additional 444 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Concentrix by 47.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock valued at $84,000 after acquiring an additional 483 shares during the period. Fifth Third Bancorp raised its position in shares of Concentrix by 36.5% in the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after acquiring an additional 548 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Concentrix by 582.5% in the 1st quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock valued at $117,000 after acquiring an additional 1,800 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Down 0.1%

CNXC traded down $0.04 during trading on Friday, reaching $53.97. 495,600 shares of the stock were exchanged, compared to its average volume of 592,144. The stock has a market cap of $3.40 billion, a P/E ratio of 14.83, a price-to-earnings-growth ratio of 0.72 and a beta of 0.53. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $68.56. The stock's 50 day moving average price is $53.11 and its two-hundred day moving average price is $52.04. 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 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 analyst estimates of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.Concentrix's quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous 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 analysts expect that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Dividend Announcement

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. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Friday, July 25th. Concentrix's payout ratio is presently 36.54%.

Insiders Place Their Bets

In related news, EVP Cormac J. Twomey sold 500 shares of the business's stock in a transaction on 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. 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 accessible through this hyperlink. Insiders own 3.20% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CNXC shares. Canaccord Genuity Group restated a "buy" rating and set a $80.00 target price on shares of Concentrix in a report on Monday, June 30th. Barrington Research restated an "outperform" rating and set a $54.00 target price on shares of Concentrix in a report on Tuesday, June 24th. Robert W. Baird raised their target price on shares of Concentrix from $62.00 to $72.00 and gave the stock 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 research note on Saturday, June 21st. Finally, Bank of America lowered their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating on the stock in a report on Friday, June 27th. One 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. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $66.75.

About Concentrix

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.