Kingsview Wealth Management LLC Makes New $2.45 Million Investment in Concentrix Corporation $CNXC

Kingsview Wealth Management LLC purchased a new stake in Concentrix Corporation (NASDAQ:CNXC) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 46,433 shares of the company’s stock, valued at approximately $2,454,000.

Other large investors have also made changes to their positions in the company. Cetera Investment Advisers bought a new stake in shares of Concentrix in the second quarter valued at approximately $293,000. Creative Planning bought a new position in Concentrix during the second quarter worth $251,000. SG Americas Securities LLC raised its stake in Concentrix by 85.9% during the 2nd quarter. SG Americas Securities LLC now owns 11,584 shares of the company’s stock valued at $612,000 after purchasing an additional 5,354 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Concentrix by 6.7% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,818 shares of the company’s stock valued at $625,000 after purchasing an additional 745 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey grew its position in Concentrix by 4.2% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 17,654 shares of the company’s stock worth $933,000 after purchasing an additional 706 shares during the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Upgrades and Downgrades

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

Concentrix Trading Down 3.0%

Shares of NASDAQ:CNXC opened at $32.50 on Wednesday. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 6.87, a PEG ratio of 0.48 and a beta of 0.49. The company’s fifty day simple moving average is $45.67 and its 200 day simple moving average is $51.07. Concentrix Corporation has a 12 month low of $32.40 and a 12 month high of $66.00. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.10.

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

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th were issued a dividend of $0.36 per share. This is an increase from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, October 24th. Concentrix’s payout ratio is 30.44%.

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell purchased 1,000 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was bought at an average cost of $40.00 per share, for a total transaction of $40,000.00. Following the completion of the transaction, the chief executive officer owned 287,661 shares in the company, valued at approximately $11,506,440. This represents a 0.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Over the last ninety days, insiders have bought 4,000 shares of company stock valued at $169,410. Insiders own 3.20% of the company’s stock.

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.