Concentrix (NASDAQ:CNXC) Shares Gap Down - Should You Sell?

Key Points

• Concentrix shares fell sharply at the open, dropping from a previous close of $26.87 to $25.71 before recovering to $26.43. The stock has a market capitalization of approximately $1.63 billion.
• Analyst sentiment is mixed but leans cautious: the consensus rating is “Hold” with a $32.75 price target, while Bank of America, Weiss Ratings and Zacks Research recently lowered their assessments or targets.
• Concentrix narrowly missed quarterly earnings and revenue estimates, reporting $2.63 in EPS and $2.46 billion in revenue, while posting a negative net margin. The company also pays a quarterly dividend of $0.36 per share, equivalent to a 5.4% annualized yield.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $26.87, but opened at $25.71. Concentrix shares last traded at $26.43, with a volume of 71,513 shares traded.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of research analyst reports. Weiss Ratings restated a "sell (d)" rating on shares of Concentrix in a report on Friday, July 24th. Bank of America cut their price objective on Concentrix from $32.00 to $26.00 and set a "neutral" rating on the stock in a report on Tuesday, June 30th. Canaccord Genuity Group decreased their target price on Concentrix from $55.00 to $45.00 and set a "buy" rating for the company in a report on Tuesday, June 30th. Robert W. Baird dropped their target price on shares of Concentrix from $40.00 to $30.00 and set an "outperform" rating for the company in a research report on Tuesday, June 30th. Finally, Zacks Research lowered shares of Concentrix from a "hold" rating to a "strong sell" rating in a report on Thursday, July 2nd. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Concentrix has an average rating of "Hold" and a consensus price target of $32.75.

Concentrix Trading Down 0.8%

The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -1.25, a P/E/G ratio of 0.48 and a beta of 0.45. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a fifty day moving average of $24.42 and a 200-day moving average of $27.28.

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

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.44 annualized dividend and a yield of 5.4%. Concentrix's payout ratio is -6.75%.

Institutional Trading of Concentrix

Large investors have recently bought and sold shares of the company. Osaic Holdings Inc. lifted its holdings in shares of Concentrix by 13.4% during the 2nd quarter. Osaic Holdings Inc. now owns 2,222 shares of the company's stock worth $118,000 after acquiring an additional 263 shares during the period. State of Wyoming grew its position in Concentrix by 6.2% in the fourth quarter. State of Wyoming now owns 5,029 shares of the company's stock valued at $209,000 after acquiring an additional 293 shares during the period. Deutsche Bank AG raised its stake in Concentrix by 4.7% during the fourth quarter. Deutsche Bank AG now owns 6,767 shares of the company's stock worth $281,000 after acquiring an additional 303 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Concentrix by 1.1% in the 2nd quarter. California State Teachers Retirement System now owns 36,387 shares of the company's stock worth $1,923,000 after purchasing an additional 384 shares during the last quarter. Finally, Brevan Howard Capital Management LP increased its position in shares of Concentrix by 4.5% during the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company's stock worth $473,000 after purchasing an additional 384 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company's stock.

Concentrix Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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