Legal & General Group Plc Purchases Shares of 148,961 Concentrix Corporation $CNXC

Legal & General Group Plc purchased a new stake in Concentrix Corporation (NASDAQ:CNXC) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 148,961 shares of the company’s stock, valued at approximately $3,337,000. Legal & General Group Plc owned approximately 0.24% of Concentrix as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CNXC. The Manufacturers Life Insurance Company bought a new position in shares of Concentrix in the second quarter valued at approximately $463,000. Paradigm Capital Management Inc. NY purchased a new stake in Concentrix in the 2nd quarter valued at $682,000. Pinnacle Holdings LLC bought a new position in Concentrix during the 2nd quarter valued at $752,000. Northwestern Mutual Wealth Management Co. purchased a new position in Concentrix during the 2nd quarter worth $25,000. Finally, Ieq Capital LLC bought a new stake in shares of Concentrix in the 2nd quarter worth $2,585,000. 90.34% of the stock is owned by institutional investors.

Concentrix Stock Down 2.1%

CNXC opened at $32.16 on Friday. Concentrix Corporation has a fifty-two week low of $19.12 and a fifty-two week high of $57.88. 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 stock has a market cap of $1.96 billion, a price-to-earnings ratio of -1.51, a price-to-earnings-growth ratio of 0.60 and a beta of 0.47. The firm’s fifty day moving average is $25.41 and its 200 day moving average is $27.05.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.01). The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.47 billion. Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. Concentrix’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, sell-side analysts forecast that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.5%. Concentrix’s dividend payout ratio is presently -6.75%.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of recent research reports. Barrington Research decreased their target price on Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Concentrix in a research report on Friday, July 24th. Zacks Research raised Concentrix from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Canaccord Genuity Group reduced their price target on Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Finally, Bank of America cut their price objective on Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average 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.