Concentrix Corporation $CNXC Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. decreased its position in Concentrix Corporation (NASDAQ:CNXC) by 70.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,373 shares of the company’s stock after selling 32,407 shares during the period. SummitTX Capital L.P.’s holdings in Concentrix were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in CNXC. Sei Investments Co. lifted its holdings in Concentrix by 49.7% in the first quarter. Sei Investments Co. now owns 431,229 shares of the company’s stock valued at $11,799,000 after acquiring an additional 143,092 shares during the last quarter. State of Wyoming grew its position in Concentrix by 48.5% in the first quarter. State of Wyoming now owns 7,469 shares of the company’s stock worth $204,000 after acquiring an additional 2,440 shares during the period. Kopernik Global Investors LLC acquired a new stake in Concentrix during the first quarter worth $44,523,000. First Trust Advisors LP raised its position in Concentrix by 11.1% in the first quarter. First Trust Advisors LP now owns 895,118 shares of the company’s stock valued at $24,490,000 after purchasing an additional 89,220 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in Concentrix by 18.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,951,378 shares of the company’s stock valued at $80,746,000 after purchasing an additional 460,108 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Trading Down 1.2%

NASDAQ CNXC opened at $24.60 on Friday. 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 firm has a market cap of $1.50 billion, a price-to-earnings ratio of -1.15, a PEG ratio of 0.46 and a beta of 0.47. The firm has a 50 day simple moving average of $25.06 and a 200-day simple moving average of $29.20. Concentrix Corporation has a one year low of $19.12 and a one year high of $57.88.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing the consensus estimate of $2.64 by ($0.01). Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the company earned $2.70 earnings per share. Concentrix’s quarterly revenue was up 1.9% on a year-over-year basis. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. Equities research analysts anticipate that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Friday, July 24th will be issued a $0.36 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 5.9%. Concentrix’s dividend payout ratio (DPR) is -6.75%.

Analyst Upgrades and Downgrades

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

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.