Concentrix (NASDAQ:CNXC) Trading 10.9% Higher – Here’s Why

Concentrix Corporation (NASDAQ:CNXC)’s stock price shot up 10.9% on Wednesday . The stock traded as high as $26.42 and last traded at $26.26. 506,695 shares were traded during mid-day trading, a decline of 68% from the average session volume of 1,602,882 shares. The stock had previously closed at $23.67.

Analysts Set New Price Targets

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

Concentrix Stock Down 2.0%

The firm has a 50-day moving average price of $24.44 and a two-hundred day moving average price of $27.55. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -1.18, a price-to-earnings-growth ratio of 0.47 and a beta of 0.45. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.18 and a current ratio of 1.18.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results 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). Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company earned $2.70 earnings per share. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. 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, sell-side analysts forecast that Concentrix Corporation will post 9.67 earnings per share for the current year.

Concentrix Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Friday, July 24th. Concentrix’s dividend payout ratio (DPR) is -6.75%.

Institutional Investors Weigh In On Concentrix

Several hedge funds and other institutional investors have recently bought and sold shares of CNXC. Northwestern Mutual Wealth Management Co. purchased a new position in shares of Concentrix during the second quarter worth about $25,000. Larson Financial Group LLC lifted its holdings in shares of Concentrix by 224.9% in the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock valued at $32,000 after purchasing an additional 479 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings 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 purchasing an additional 522 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Concentrix by 1,032.5% in the 4th quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock valued at $36,000 after purchasing an additional 795 shares during the period. Finally, Webster Bank N. A. acquired a new stake in shares of Concentrix in the 1st quarter valued at about $41,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

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.