Nierenberg Investment Management Company LLC Takes $1.44 Billion Position in Concentrix Corporation $CNXC

Nierenberg Investment Management Company LLC purchased a new position in Concentrix Corporation (NASDAQ:CNXC) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 64,480 shares of the company’s stock, valued at approximately $1,444,674,000. Concentrix accounts for 0.7% of Nierenberg Investment Management Company LLC’s holdings, making the stock its 18th biggest position. Nierenberg Investment Management Company LLC owned approximately 0.11% of Concentrix at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Hussman Strategic Advisors Inc. raised its stake in shares of Concentrix by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock valued at $3,493,000 after acquiring an additional 42,000 shares in the last quarter. Groupe Bruxelles Lambert bought a new position in Concentrix in the second quarter worth approximately $68,000,000. Pzena Investment Management LLC grew its stake in Concentrix by 32.3% in the fourth quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company’s stock worth $121,713,000 after purchasing an additional 714,604 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Concentrix during the 4th quarter worth $19,385,000. Finally, Empowered Funds LLC raised its position in Concentrix by 21.6% during the 1st quarter. Empowered Funds LLC now owns 306,784 shares of the company’s stock valued at $8,394,000 after purchasing an additional 54,585 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

Concentrix Trading Up 8.7%

Shares of NASDAQ:CNXC opened at $25.72 on Thursday. The company has a market capitalization of $1.57 billion, a PE ratio of -1.21, a P/E/G ratio of 0.43 and a beta of 0.45. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.46. Concentrix Corporation has a 12-month low of $19.12 and a 12-month high of $57.88. The business’s fifty day simple moving average is $24.46 and its 200-day simple moving average is $27.63.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data 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). Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the company 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 research analysts predict that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.6%. The ex-dividend date was Friday, July 24th. Concentrix’s dividend payout ratio (DPR) is currently -6.75%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CNXC. Barrington Research dropped their price target on Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Bank of America decreased their price objective on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. 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 research note on Tuesday, June 30th. Canaccord Genuity Group dropped their target price on shares of Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a report on Friday, July 24th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.75.

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.