Concentrix (NASDAQ:CNXC) Shares Up 5.4% - Here's What Happened

Key Points

• Concentrix shares rose 5.4% to $29.64 in midday trading, although volume was 83% below the average session level.
• Analyst sentiment remains mixed: the consensus rating is “Hold” with a $32.75 target, while several firms recently lowered price targets and Weiss Ratings and Zacks Research issued sell-oriented assessments.
• The company narrowly missed quarterly earnings and revenue estimates, reporting $2.63 in EPS and $2.46 billion in revenue, but revenue still grew 1.9% year over year. Concentrix also maintains a quarterly dividend of $0.36 per share, implying a 4.9% annualized yield.

Concentrix Corporation (NASDAQ:CNXC - Get Free Report) was up 5.4% on Friday . The company traded as high as $29.76 and last traded at $29.64. 266,976 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,586,310 shares. The stock had previously closed at $28.13.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Weiss Ratings reissued a "sell (d)" rating on shares of Concentrix in a research note on Friday, July 24th. Robert W. Baird dropped their price target on Concentrix from $40.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, June 30th. Barrington Research cut 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. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $55.00 to $45.00 and set a "buy" rating on the stock in a research report on Tuesday, June 30th. Finally, Zacks Research downgraded shares of Concentrix from a "hold" rating to a "strong sell" rating in a report on Thursday, July 2nd. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Concentrix presently has a consensus rating of "Hold" and a consensus target price of $32.75.

Concentrix Stock Up 5.2%

The firm has a market cap of $1.81 billion, a P/E ratio of -1.39, a price-to-earnings-growth ratio of 0.51 and a beta of 0.45. The company's 50-day simple moving average is $24.53 and its 200 day simple moving average is $27.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18.

Concentrix (NASDAQ:CNXC - Get Free Report) last posted its earnings results on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing analysts' consensus estimates of $2.64 by ($0.01). The business 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 quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter last 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. Research analysts anticipate that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Friday, July 24th. Concentrix's payout ratio is presently -6.75%.

Institutional Investors Weigh In On Concentrix

Several institutional investors have recently modified their holdings of CNXC. Royal Bank of Canada increased its position in shares of Concentrix by 9.5% during the 1st quarter. Royal Bank of Canada now owns 47,501 shares of the company's stock valued at $2,643,000 after purchasing an additional 4,133 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Concentrix by 75.1% in the first quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company's stock worth $23,552,000 after buying an additional 181,546 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Concentrix by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company's stock worth $8,152,000 after buying an additional 21,746 shares during the last quarter. Focus Partners Wealth purchased a new position in Concentrix during the first quarter worth $781,000. Finally, Geneos Wealth Management Inc. boosted its stake in Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company's stock worth $34,000 after buying an additional 522 shares during the period. 90.34% of the stock is owned by institutional investors.

About Concentrix

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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