VIRGINIA RETIREMENT SYSTEMS ET Al Takes $1.34 Million Position in Concentrix Corporation $CNXC

Key Points

• Virginia Retirement Systems acquired 59,951 Concentrix shares worth approximately $1.34 million, while institutional investors collectively own 90.34% of the company.
• Concentrix slightly missed quarterly earnings and revenue estimates, reporting $2.63 EPS and $2.46 billion in revenue; analysts expect $9.67 EPS for the current fiscal year.
• CNXC shares opened at $28.24, and analysts maintain a consensus “Hold” rating with an average price target of $32.75. The company also pays a quarterly dividend of $0.36, yielding about 5.1% annually.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Concentrix Corporation (NASDAQ:CNXC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 59,951 shares of the company's stock, valued at approximately $1,343,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of Concentrix as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of CNXC. BlackRock Inc. purchased a new position in shares of Concentrix in the second quarter worth about $149,639,000. Groupe Bruxelles Lambert bought a new position in shares of Concentrix in the second quarter worth $68,000,000. Pzena Investment Management LLC grew its holdings in Concentrix by 32.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company's stock valued at $121,713,000 after buying an additional 714,604 shares in the last quarter. Empowered Funds LLC increased its holdings in Concentrix by 21.6% during the 1st quarter. Empowered Funds LLC now owns 306,784 shares of the company's stock worth $8,394,000 after acquiring an additional 54,585 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new position in Concentrix during the fourth quarter worth about $19,385,000. 90.34% of the stock is owned by institutional investors.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $28.24 on Friday. The company has a 50 day simple moving average of $25.88 and a two-hundred day simple moving average of $26.93. Concentrix Corporation has a fifty-two week low of $19.12 and a fifty-two week high of $57.88. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of -1.32, a P/E/G ratio of 0.52 and a beta of 0.47. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.18 and a current ratio of 1.18.

Concentrix (NASDAQ:CNXC - Get Free Report) last issued its quarterly earnings results on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing analysts' consensus estimates of $2.64 by ($0.01). The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.70 earnings per share. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. Analysts expect that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Friday, July 24th. Concentrix's payout ratio is -6.75%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CNXC shares. Barrington Research dropped their price objective on shares of Concentrix from $38.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Zacks Research upgraded shares of Concentrix from a "strong sell" rating to a "hold" rating in a report on Monday, August 31st. Canaccord Genuity Group reduced their price target on Concentrix from $55.00 to $45.00 and set a "buy" rating on the stock in a report on Tuesday, June 30th. Bank of America decreased their price objective on shares of Concentrix from $32.00 to $26.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th. Finally, Robert W. Baird lowered their price objective on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $32.75.

Concentrix Company Profile

Concentrix Corporation is a global technology and services company that helps organizations manage customer experience, business operations and digital transformation. Its offerings include customer care, technical support, sales and marketing services, back-office support, analytics, artificial intelligence and automation solutions.

The company serves clients across industries such as technology and consumer electronics, retail, banking and financial services, healthcare, communications and media, travel, and automotive.

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