Vinva Investment Management Ltd Purchases Shares of 5,188 Concentrix Corporation $CNXC

Vinva Investment Management Ltd acquired a new position in shares of Concentrix Corporation (NASDAQ:CNXC) in the 2nd quarter, Holdings Channel reports. The fund acquired 5,188 shares of the company’s stock, valued at approximately $274,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Choreo LLC bought a new position in shares of Concentrix during the 2nd quarter worth approximately $305,000. Prudential Financial Inc. bought a new position in shares of Concentrix in the 2nd quarter valued at about $9,218,000. Franklin Resources Inc. increased its stake in shares of Concentrix by 243.6% during the 2nd quarter. Franklin Resources Inc. now owns 169,776 shares of the company’s stock worth $8,974,000 after purchasing an additional 120,365 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Concentrix in the 2nd quarter valued at about $5,942,000. Finally, Traub Capital Management LLC bought a new position in Concentrix during the second quarter worth about $184,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Price Performance

Shares of CNXC opened at $36.22 on Friday. 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 stock has a market cap of $2.25 billion, a PE ratio of 7.66, a PEG ratio of 0.52 and a beta of 0.49. Concentrix Corporation has a 12-month low of $31.63 and a 12-month high of $66.00. The business has a 50-day simple moving average of $42.52 and a two-hundred day simple moving average of $50.11.

Concentrix (NASDAQ:CNXC) last posted its 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 analyst estimates 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 in the prior year, the business 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. Analysts anticipate that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 4th. Shareholders of record on Friday, October 24th were issued a $0.36 dividend. The ex-dividend date was Friday, October 24th. 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 yield of 4.0%. Concentrix’s dividend payout ratio is presently 30.44%.

Analysts Set New Price Targets

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

Insider Activity

In related news, CEO Christopher A. Caldwell acquired 2,000 shares of the stock in a transaction dated Thursday, October 30th. The stock was bought at an average price of $42.03 per share, for a total transaction of $84,060.00. Following the purchase, the chief executive officer directly owned 286,661 shares of the company’s stock, valued at $12,048,361.83. The trade was a 0.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders purchased 4,000 shares of company stock worth $169,410. 3.20% of the stock is currently owned by corporate insiders.

Concentrix 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.