Fifth Third Bancorp Buys 33,631 Shares of Concentrix Corporation $CNXC

Fifth Third Bancorp grew its stake in Concentrix Corporation (NASDAQ:CNXC) by 6,620.3% during the first quarter, Holdings Channel.com reports. The fund owned 34,139 shares of the company’s stock after purchasing an additional 33,631 shares during the quarter. Fifth Third Bancorp’s holdings in Concentrix were worth $934,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Geneos Wealth Management Inc. raised its stake in shares of Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after acquiring an additional 522 shares in the last quarter. Larson Financial Group LLC grew its stake in Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after purchasing an additional 479 shares in the last quarter. Allworth Financial LP increased its holdings in Concentrix by 90.6% during the 3rd quarter. Allworth Financial LP now owns 856 shares of the company’s stock worth $40,000 after purchasing an additional 407 shares during the period. Global Retirement Partners LLC increased its holdings in Concentrix by 1,032.5% during the 4th quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock worth $36,000 after purchasing an additional 795 shares during the period. Finally, Rothschild Investment LLC raised its position in Concentrix by 52.0% during the 4th quarter. Rothschild Investment LLC now owns 1,146 shares of the company’s stock valued at $48,000 after purchasing an additional 392 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CNXC. Bank of America lowered their target price on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Canaccord Genuity Group decreased their price objective on Concentrix from $55.00 to $45.00 and set a “buy” rating for the company in a report on Tuesday, June 30th. Barrington Research lowered their price objective on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Zacks Research cut shares of Concentrix from a “hold” rating to a “strong sell” rating in a report on Thursday, July 2nd. Finally, Robert W. Baird cut their target price on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $32.75.

Concentrix Price Performance

Shares of NASDAQ CNXC opened at $22.25 on Monday. Concentrix Corporation has a fifty-two week low of $19.12 and a fifty-two week high of $60.96. The company has a market cap of $1.36 billion, a PE ratio of -1.04, a P/E/G ratio of 0.41 and a beta of 0.47. 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 business has a 50-day simple moving average of $25.04 and a two-hundred day simple moving average of $29.75.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings data on Monday, June 29th. The company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.01). The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the company 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. As a group, equities analysts expect that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th will be paid a dividend of $0.36 per share. The ex-dividend date is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 6.5%. Concentrix’s dividend payout ratio is presently -6.75%.

Insider Activity

In other Concentrix news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the transaction, the insider owned 2,773,667 shares of the company’s stock, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.

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.