Concentrix (NASDAQ:CNXC) Shares Gap Down – Here’s What Happened

Shares of Concentrix Corporation (NASDAQ:CNXC) gapped down prior to trading on Wednesday . The stock had previously closed at $26.87, but opened at $25.71. Concentrix shares last traded at $26.43, with a volume of 71,513 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CNXC. Zacks Research downgraded Concentrix from a “hold” rating to a “strong sell” rating in a report on Thursday, July 2nd. Bank of America dropped their price objective on Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Canaccord Genuity Group decreased their target price on Concentrix from $55.00 to $45.00 and set a “buy” rating for the company in a research note on Tuesday, June 30th. Robert W. Baird decreased their target price on Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Concentrix in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.75.

Concentrix Price Performance

The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -1.32, a PEG ratio of 0.51 and a beta of 0.45. The business’s fifty day simple moving average is $24.53 and its 200 day simple moving average is $27.13.

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

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th were issued a $0.36 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.44 annualized dividend and a yield of 5.1%. Concentrix’s dividend payout ratio is presently -6.75%.

Institutional Investors Weigh In On Concentrix

Several hedge funds and other institutional investors have recently modified their holdings of CNXC. Osaic Holdings Inc. raised its position in shares of Concentrix by 13.4% during the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock worth $118,000 after purchasing an additional 263 shares during the period. State of Wyoming grew its position in Concentrix by 6.2% in the 4th quarter. State of Wyoming now owns 5,029 shares of the company’s stock valued at $209,000 after purchasing an additional 293 shares during the period. Deutsche Bank AG increased its stake in Concentrix by 4.7% during the 4th quarter. Deutsche Bank AG now owns 6,767 shares of the company’s stock valued at $281,000 after purchasing an additional 303 shares in the last quarter. Brevan Howard Capital Management LP increased its stake in Concentrix by 4.5% during the 2nd quarter. Brevan Howard Capital Management LP now owns 8,951 shares of the company’s stock valued at $473,000 after purchasing an additional 384 shares in the last quarter. Finally, California State Teachers Retirement System raised its holdings in Concentrix by 1.1% during the second quarter. California State Teachers Retirement System now owns 36,387 shares of the company’s stock worth $1,923,000 after buying an additional 384 shares during the last quarter. Institutional investors own 90.34% of the company’s stock.

Concentrix Company Profile

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.