Concentrix (NASDAQ:CNXC) Trading Up 8% – Here’s Why

Concentrix Corporation (NASDAQ:CNXC)’s stock price traded up 8% during trading on Tuesday . The stock traded as high as $29.22 and last traded at $29.7320. Approximately 516,172 shares traded hands during trading, a decline of 68% from the average session volume of 1,591,884 shares. The stock had previously closed at $27.53.

Analysts Set New Price Targets

CNXC has been the topic of several research reports. Zacks Research upgraded shares of Concentrix from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Canaccord Genuity Group reduced their price objective on shares of Concentrix from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. 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 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, Barrington Research decreased their price objective on Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Concentrix has a consensus rating of “Hold” and a consensus price target of $32.75.

Concentrix Price Performance

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 company’s 50 day moving average price is $26.59 and its 200 day moving average price is $26.77. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -1.41, a P/E/G ratio of 0.51 and a beta of 0.47.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Monday, June 29th. The company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business earned $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. On average, equities research analysts predict that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were issued 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 dividend yield of 4.8%. Concentrix’s dividend payout ratio (DPR) is presently -6.75%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CNXC. BlackRock Inc. acquired a new stake in shares of Concentrix in the second quarter valued at approximately $149,639,000. Pzena Investment Management LLC acquired a new position in Concentrix during the second quarter worth $76,488,000. Groupe Bruxelles Lambert bought a new position in Concentrix in the second quarter valued at $68,000,000. Kopernik Global Investors LLC acquired a new stake in Concentrix in the 1st quarter valued at $44,523,000. Finally, Bank of America Corp DE bought a new stake in Concentrix during the 2nd quarter worth about $18,248,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Company Profile

Concentrix Corporation is a global technology and services company that helps organizations manage customer experience, business operations and digital transformation. Its offerings include customer care, technical support, sales and marketing services, back-office support, analytics, artificial intelligence and automation solutions.

The company serves clients across industries such as technology and consumer electronics, retail, banking and financial services, healthcare, communications and media, travel, and automotive.