Concentrix (NASDAQ:CNXC) Raised to “Hold” at Zacks Research

Concentrix (NASDAQ:CNXC) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday, Zacks reports.

Several other equities analysts have also issued reports on the stock. Robert W. Baird decreased their price target on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Barrington Research dropped their price objective on Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Canaccord Genuity Group reduced their target price on Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Bank of America decreased their target price on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a report on Friday, July 24th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Concentrix has a consensus rating of “Hold” and a consensus price target of $32.75.

Concentrix Stock Up 7.2%

Concentrix stock opened at $32.28 on Monday. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of -1.51, a PEG ratio of 0.55 and a beta of 0.47. The company’s 50 day simple moving average is $24.90 and its 200 day simple moving average is $26.98. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18. Concentrix has a fifty-two week low of $19.12 and a fifty-two week high of $57.88.

Concentrix (NASDAQ:CNXC) last issued its earnings results on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.01). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the previous year, the company posted $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, sell-side analysts anticipate that Concentrix will post 9.67 EPS for the current year.

Hedge Funds Weigh In On Concentrix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LP increased its holdings in Concentrix by 321.6% during the 2nd quarter. Corient Private Wealth LP now owns 121,597 shares of the company’s stock worth $2,724,000 after purchasing an additional 92,752 shares in the last quarter. Amundi lifted its holdings in shares of Concentrix by 46.2% in the second quarter. Amundi now owns 33,437 shares of the company’s stock valued at $749,000 after purchasing an additional 10,572 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Concentrix during the second quarter worth about $1,343,000. California State Teachers Retirement System grew its holdings in shares of Concentrix by 2,497.0% during the second quarter. California State Teachers Retirement System now owns 1,157,241 shares of the company’s stock worth $25,928,000 after buying an additional 1,112,681 shares in the last quarter. Finally, Nykredit A S acquired a new stake in Concentrix in the 2nd quarter valued at approximately $29,000. 90.34% of the stock is owned by institutional investors and hedge funds.

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.