Trexquant Investment LP Buys Shares of 137,322 Concentrix Corporation $CNXC

Key Points

• Trexquant Investment LP acquired a new position in Concentrix Corporation, purchasing 137,322 shares valued at approximately $7.64 million in the first quarter.
• Concentrix reported a miss in earnings per share (EPS) for the last quarter, with $2.70, below analysts' expectations of $2.76, despite revenues rising by 1.5% year-over-year.
• The company announced a quarterly dividend of $0.3328 per share, translating to an annual yield of 2.5%, with a payout ratio of 36.54%.

Trexquant Investment LP purchased a new position in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 137,322 shares of the company's stock, valued at approximately $7,641,000. Trexquant Investment LP owned 0.21% of Concentrix as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its position in Concentrix by 47.3% in the 1st quarter. UMB Bank n.a. now owns 676 shares of the company's stock worth $38,000 after buying an additional 217 shares during the period. First Horizon Advisors Inc. increased its position in Concentrix by 111.8% in the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock worth $47,000 after buying an additional 444 shares during the period. PNC Financial Services Group Inc. increased its position in Concentrix by 47.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company's stock worth $84,000 after buying an additional 483 shares during the period. Fifth Third Bancorp increased its position in shares of Concentrix by 36.5% during the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after purchasing an additional 548 shares during the period. Finally, Versant Capital Management Inc increased its position in shares of Concentrix by 582.5% during the first quarter. Versant Capital Management Inc now owns 2,109 shares of the company's stock valued at $117,000 after purchasing an additional 1,800 shares during the period. 90.34% of the stock is owned by institutional investors.

Insider Activity at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 37,130 shares of the company's stock, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.20% of the company's stock.

Concentrix Trading Up 0.5%

NASDAQ:CNXC traded up $0.28 on Thursday, hitting $52.25. 256,439 shares of the stock were exchanged, compared to its average volume of 785,328. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 14.33, a P/E/G ratio of 0.70 and a beta of 0.53. Concentrix Corporation has a 52 week low of $36.28 and a 52 week high of $76.11. The company's 50-day moving average price is $53.39 and its 200 day moving average price is $51.65. 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 posted its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (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 quarter in the previous year, the firm posted $2.69 earnings per share. Concentrix's quarterly revenue 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 forecast that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CNXC shares. Wall Street Zen cut Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, June 21st. Robert W. Baird boosted their price objective on Concentrix from $62.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Barrington Research reaffirmed an "outperform" rating and set a $54.00 price target on shares of Concentrix in a research note on Tuesday, June 24th. Canaccord Genuity Group reiterated a "buy" rating and issued a $80.00 price objective on shares of Concentrix in a report on Monday, June 30th. Finally, Bank of America dropped their price objective 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 assigned a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Concentrix presently has an average rating of "Buy" and a consensus price target 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.