Vise Technologies Inc. Takes Position in Concentrix Corporation $CNXC

Vise Technologies Inc. acquired a new position in Concentrix Corporation (NASDAQ:CNXC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 17,974 shares of the company’s stock, valued at approximately $950,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CNXC. Geneos Wealth Management Inc. lifted its position in shares of Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after acquiring an additional 522 shares in the last quarter. IFP Advisors Inc raised its stake in shares of Concentrix by 473.8% during the 2nd quarter. IFP Advisors Inc now owns 700 shares of the company’s stock valued at $37,000 after purchasing an additional 578 shares during the period. True Wealth Design LLC raised its stake in shares of Concentrix by 39.3% during the 2nd quarter. True Wealth Design LLC now owns 1,163 shares of the company’s stock valued at $61,000 after purchasing an additional 328 shares during the period. PNC Financial Services Group Inc. lifted its holdings in Concentrix by 47.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company’s stock worth $84,000 after purchasing an additional 483 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Concentrix by 23.9% in the 2nd quarter. Parkside Financial Bank & Trust now owns 1,818 shares of the company’s stock worth $96,000 after purchasing an additional 351 shares during the period. Institutional investors own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Concentrix

In other Concentrix news, CEO Christopher A. Caldwell purchased 1,000 shares of Concentrix stock in a transaction on Friday, October 31st. The shares were acquired 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 directly owned 287,661 shares of the company’s stock, valued at approximately $11,506,440. The trade was a 0.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders purchased a total of 4,000 shares of company stock valued at $169,410 over the last ninety days. 3.20% of the stock is owned by corporate insiders.

Concentrix Stock Up 1.4%

Shares of NASDAQ:CNXC opened at $35.86 on Friday. The firm has a market capitalization of $2.23 billion, a PE ratio of 7.58, a price-to-earnings-growth ratio of 0.51 and a beta of 0.49. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.56 and a current ratio of 1.56. Concentrix Corporation has a 52-week low of $33.56 and a 52-week high of $66.00. The firm has a fifty day moving average of $46.84 and a 200 day moving average of $51.43.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Thursday, September 25th. The company reported $2.78 earnings per share for the quarter, missing analysts’ consensus estimates of $2.88 by ($0.10). Concentrix had a net margin of 3.25% and a return on equity of 16.02%. The firm had revenue of $2.48 billion for the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the business earned $2.87 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. 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 anticipate 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. Investors of record on Friday, October 24th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, October 24th. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. Concentrix’s dividend payout ratio is presently 30.44%.

About Concentrix

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.