Concentrix (NASDAQ:CNXC) Sets New 1-Year Low – Should You Sell?

Concentrix Corporation (NASDAQ:CNXC)’s share price hit a new 52-week low during trading on Monday . The stock traded as low as $33.43 and last traded at $33.64, with a volume of 599206 shares trading hands. The stock had previously closed at $35.27.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on CNXC shares. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a research note on Saturday, October 25th. Canaccord Genuity Group reiterated a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a report on Tuesday, September 23rd. Weiss Ratings raised Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Barrington Research restated an “outperform” rating and set a $62.00 target price on shares of Concentrix in a research report on Wednesday, September 24th. Finally, Robert W. Baird lowered their price target on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.25.

Concentrix Trading Down 5.0%

The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $2.09 billion, a P/E ratio of 7.08, a price-to-earnings-growth ratio of 0.51 and a beta of 0.49. The company has a fifty day simple moving average of $46.47 and a two-hundred day simple moving average of $51.32.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Thursday, September 25th. The company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.10). Concentrix had a return on equity of 16.02% and a net margin of 3.25%.The business had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.46 billion. During the same period in the previous year, the company posted $2.87 earnings per share. Concentrix’s revenue for the quarter was up 4.0% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS. Q4 2025 guidance at 2.850-2.960 EPS. On average, sell-side analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current year.

Concentrix Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 4th. Investors of record on Friday, October 24th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.44 annualized dividend and a yield of 4.3%. This is an increase from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s payout ratio is presently 30.44%.

Insiders Place Their Bets

In other news, CEO Christopher A. Caldwell bought 2,000 shares of the stock in a transaction on Thursday, October 30th. The stock was purchased at an average price of $42.03 per share, for a total transaction of $84,060.00. Following the acquisition, the chief executive officer owned 286,661 shares in the company, valued at approximately $12,048,361.83. This trade represents a 0.70% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have acquired 4,000 shares of company stock valued at $169,410. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Huntington National Bank raised its position in Concentrix by 6,011.1% in the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock valued at $25,000 after buying an additional 541 shares during the last quarter. Quent Capital LLC acquired a new position in Concentrix during the 3rd quarter worth approximately $29,000. Larson Financial Group LLC grew its stake in shares of Concentrix by 224.9% during the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after acquiring an additional 479 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after purchasing an additional 522 shares during the last quarter. Finally, Rothschild Investment LLC lifted its position in shares of Concentrix by 14,980.0% in the third quarter. Rothschild Investment LLC now owns 754 shares of the company’s stock worth $35,000 after purchasing an additional 749 shares in the last quarter. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.