1832 Asset Management L.P. Boosts Position in Concentrix Corporation $CNXC

1832 Asset Management L.P. raised its holdings in shares of Concentrix Corporation (NASDAQ:CNXC) by 3.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,544,997 shares of the company’s stock after buying an additional 46,856 shares during the period. 1832 Asset Management L.P.’s holdings in Concentrix were worth $81,661,000 at the end of the most recent reporting period.

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

Concentrix Stock Performance

Shares of CNXC opened at $36.93 on Thursday. Concentrix Corporation has a 52-week low of $31.63 and a 52-week 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. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 7.81, a PEG ratio of 0.49 and a beta of 0.50. The business’s 50 day moving average is $41.39 and its two-hundred day moving average is $49.71.

Concentrix (NASDAQ:CNXC) last issued its quarterly 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). The company had revenue of $2.48 billion during 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 firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $2.87 EPS. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS and its Q4 2025 guidance at 2.850-2.960 EPS. Analysts forecast that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, October 24th. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 3.9%. Concentrix’s dividend payout ratio is 30.44%.

Insider Activity at Concentrix

In other news, CEO Christopher A. Caldwell purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 30th. The stock was acquired at an average cost of $42.03 per share, for a total transaction of $84,060.00. Following the completion of the purchase, the chief executive officer owned 286,661 shares of the company’s stock, valued at approximately $12,048,361.83. This trade represents a 0.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 4,000 shares of company stock worth $169,410 over the last quarter. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CNXC shares. Barrington Research reaffirmed an “outperform” rating and issued a $62.00 target price on shares of Concentrix in a research report on Thursday, November 20th. Weiss Ratings upgraded Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, October 8th. Wall Street Zen upgraded Concentrix from a “hold” rating to a “buy” rating in a report on Saturday, October 25th. Robert W. Baird lowered their price objective on shares of Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, September 29th. Finally, Canaccord Genuity Group reissued a “buy” rating and set a $80.00 target price on shares of Concentrix in a research report on Tuesday, September 23rd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $66.25.

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.