Tyler Stone Wealth Management Takes $1.87 Million Position in Concentrix Corporation $CNXC

Key Points

• Tyler Stone Wealth Management purchased 33,586 shares of Concentrix Corporation (NASDAQ:CNXC) valued at approximately $1.87 million, representing around 0.05% of the company.
• Concentrix has a consensus rating of "Moderate Buy" from analysts, with an average target price of $66.75 and multiple firms providing varying ratings and price targets.
• The company recently declared a quarterly dividend of $0.3328 per share, resulting in an annualized dividend yield of 2.8%, with a payout ratio of 36.54%.

Tyler Stone Wealth Management bought a new stake in Concentrix Corporation (NASDAQ:CNXC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,586 shares of the company's stock, valued at approximately $1,869,000. Tyler Stone Wealth Management owned about 0.05% of Concentrix at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of CNXC. UMB Bank n.a. boosted its stake in Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company's stock valued at $38,000 after acquiring an additional 217 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Concentrix by 111.8% in the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company's stock valued at $47,000 after acquiring an additional 444 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Concentrix by 47.3% in the first 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 in the last quarter. Fifth Third Bancorp boosted its stake in Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company's stock valued at $114,000 after acquiring an additional 548 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Concentrix by 582.5% in the first 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 in the last quarter. 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 firm's stock in a transaction dated Wednesday, July 30th. The shares were 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 in the company, valued at $2,150,198.30. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.20% of the stock is currently owned by insiders.

Concentrix Stock Performance

NASDAQ:CNXC traded up $0.44 during mid-day trading on Thursday, reaching $49.81. The stock had a trading volume of 163,354 shares, compared to its average volume of 794,826. 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 firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.65 and a beta of 0.53. Concentrix Corporation has a twelve month low of $36.28 and a twelve month high of $77.00. The business has a 50 day simple moving average of $53.97 and a 200 day simple moving average of $51.43.

Concentrix (NASDAQ:CNXC - Get Free Report) last announced its quarterly earnings data on Thursday, June 26th. The company reported $2.70 EPS for the quarter, missing analysts' consensus estimates of $2.76 by ($0.06). The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.38 billion. Concentrix had a net margin of 2.54% and a return on equity of 16.31%. Concentrix's revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.69 EPS. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. On average, analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were given a $0.3328 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.7%. Concentrix's dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analysts Forecast Growth

CNXC has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Concentrix from a "buy" rating to a "hold" rating in a research note on Saturday, June 21st. Bank of America decreased their price objective on shares of Concentrix from $65.00 to $61.00 and set a "neutral" rating for the company in a research note on Friday, June 27th. Barrington Research restated an "outperform" rating and issued a $54.00 price objective on shares of Concentrix in a research note on Tuesday, June 24th. Robert W. Baird upped their price objective on shares of Concentrix from $62.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Finally, Canaccord Genuity Group reiterated a "buy" rating and set a $80.00 target price on shares of Concentrix in a research note on Monday, June 30th. 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's stock. According to MarketBeat.com, the company presently has a consensus 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.