UBS Group AG Decreases Holdings in Concentrix Corporation $CNXC

Key Points

• UBS Group AG reduced its stake in Concentrix by 15.9% in the fourth quarter, selling 69,837 shares and leaving it with 368,810 shares worth about $15.3 million.
• Wall Street sentiment is mixed: several analysts cut price targets sharply, and the stock now carries a consensus rating of “Hold” with an average target price of $48.50.
• Concentrix reported mixed fundamentals, missing quarterly EPS estimates while revenue slightly beat expectations; the stock was trading near its 1-year low and the company also pays a 6.2% dividend yield.

UBS Group AG trimmed its holdings in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) by 15.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 368,810 shares of the company's stock after selling 69,837 shares during the period. UBS Group AG owned 0.59% of Concentrix worth $15,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its position in Concentrix by 6,011.1% during the 3rd quarter. Huntington National Bank now owns 550 shares of the company's stock worth $25,000 after purchasing an additional 541 shares during the period. Quent Capital LLC purchased a new stake in Concentrix during the 3rd quarter worth $29,000. Larson Financial Group LLC boosted its position in Concentrix by 224.9% during the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company's stock worth $32,000 after purchasing an additional 479 shares during the period. Geneos Wealth Management Inc. boosted its position in Concentrix by 532.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after purchasing an additional 522 shares during the period. Finally, Rothschild Investment LLC boosted its position in Concentrix by 14,980.0% during the 3rd quarter. Rothschild Investment LLC now owns 754 shares of the company's stock worth $35,000 after purchasing an additional 749 shares during the period. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on CNXC. Robert W. Baird decreased their price target on shares of Concentrix from $52.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Barrington Research decreased their price objective on shares of Concentrix from $62.00 to $38.00 and set an "outperform" rating for the company in a research report on Wednesday, March 25th. Canaccord Genuity Group decreased their price objective on shares of Concentrix from $80.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, March 25th. Weiss Ratings reissued a "sell (d)" rating on shares of Concentrix in a research report on Monday, April 27th. Finally, Wall Street Zen cut shares of Concentrix from a "buy" rating to a "hold" rating in a research report on Saturday, March 28th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $48.50.

Concentrix Stock Performance

NASDAQ:CNXC opened at $23.25 on Thursday. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50-day moving average of $28.39 and a two-hundred day moving average of $34.74. The stock has a market cap of $1.42 billion, a P/E ratio of -1.08, a PEG ratio of 0.29 and a beta of 0.37. Concentrix Corporation has a 1-year low of $22.05 and a 1-year high of $62.14.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its quarterly earnings data on Tuesday, March 24th. The company reported $2.61 earnings per share for the quarter, missing analysts' consensus estimates of $2.65 by ($0.04). The firm had revenue of $2.50 billion during the quarter, compared to analysts' expectations of $2.49 billion. Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The business's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.79 earnings per share. On average, research analysts expect that Concentrix Corporation will post 10.42 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Friday, April 24th. Concentrix's dividend payout ratio is -6.68%.

Insider Transactions at Concentrix

In related news, CFO Andre S. Valentine bought 2,500 shares of the business's stock in a transaction dated Thursday, April 9th. The shares were acquired at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the purchase, the chief financial officer owned 89,066 shares in the company, valued at $2,489,394.70. This trade represents a 2.89% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the company's stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the completion of the sale, the insider owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.90% of the company's stock.

Concentrix Profile

Concentrix Inc NASDAQ: CNXC is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.

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