Concentrix (NASDAQ:CNXC) Shares Gap Down – Here’s What Happened

Concentrix Corporation (NASDAQ:CNXC)’s share 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.

Analyst Upgrades and Downgrades

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

Concentrix Trading Down 0.8%

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.46. The business’s fifty day moving average is $24.42 and its two-hundred day moving average is $27.28. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -1.25, a price-to-earnings-growth ratio of 0.48 and a beta of 0.45.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Monday, June 29th. The company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.01). The firm had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The firm’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.70 EPS. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. Equities analysts anticipate 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. Investors of record on Friday, July 24th were issued a $0.36 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.44 annualized dividend and a yield of 5.4%. Concentrix’s dividend payout ratio (DPR) is currently -6.75%.

Institutional Trading of Concentrix

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Concentrix in the second quarter valued at approximately $149,639,000. Pzena Investment Management LLC bought a new position in shares of Concentrix in the 2nd quarter worth $76,488,000. Groupe Bruxelles Lambert bought a new position in shares of Concentrix in the 2nd quarter worth $68,000,000. Kopernik Global Investors LLC acquired a new stake in shares of Concentrix during the first quarter worth $44,523,000. Finally, California State Teachers Retirement System grew its stake in shares of Concentrix by 2,497.0% during the second quarter. California State Teachers Retirement System now owns 1,157,241 shares of the company’s stock worth $25,928,000 after purchasing an additional 1,112,681 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.