Concentrix (NASDAQ:CNXC) Shares Down 4.5% – Here’s Why

Concentrix Corporation (NASDAQ:CNXC) shares traded down 4.5% on Friday. The company traded as low as $26.00 and last traded at $25.7820. Approximately 218,842 shares traded hands during mid-day trading, a decline of 87% from the average session volume of 1,650,262 shares. The stock had previously closed at $27.01.

Analysts Set New Price Targets

Several research firms have recently commented on CNXC. Bank of America restated a “neutral” rating and set a $29.00 price target on shares of Concentrix in a report on Thursday. Zacks Research raised Concentrix from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Robert W. Baird reduced their target price on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Barrington Research cut their price target on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $45.00 price objective on shares of Concentrix in a report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Concentrix presently has an average rating of “Hold” and an average price target of $33.50.

Concentrix Trading Down 7.6%

The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.18 and a current ratio of 1.23. The stock has a market cap of $1.52 billion, a P/E ratio of -0.64, a P/E/G ratio of 0.46 and a beta of 0.52. The company has a 50-day simple moving average of $27.14 and a 200-day simple moving average of $26.45.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Tuesday, September 29th. The company reported $2.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.71 by $0.21. The company had revenue of $2.45 billion for the quarter, compared to the consensus estimate of $2.48 billion. Concentrix had a positive return on equity of 25.00% and a negative net margin of 23.99%.The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.78 EPS. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. On average, sell-side analysts forecast that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 3rd. Investors of record on Friday, October 23rd will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, October 23rd. This is an increase from Concentrix’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 5.9%. Concentrix’s dividend payout ratio is -6.75%.

Institutional Investors Weigh In On Concentrix

Several hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP acquired a new stake in shares of Concentrix during the second quarter worth $228,000. Arizona State Retirement System lifted its stake in shares of Concentrix by 14.8% during the 2nd quarter. Arizona State Retirement System now owns 11,783 shares of the company’s stock valued at $264,000 after buying an additional 1,523 shares in the last quarter. Nykredit A S purchased a new stake in shares of Concentrix during the 2nd quarter valued at approximately $29,000. Corient Private Wealth LP grew its stake in Concentrix by 321.6% in the 2nd quarter. Corient Private Wealth LP now owns 121,597 shares of the company’s stock valued at $2,724,000 after buying an additional 92,752 shares in the last quarter. Finally, Amundi lifted its position in shares of Concentrix by 46.2% during the second quarter. Amundi now owns 33,437 shares of the company’s stock worth $749,000 after acquiring an additional 10,572 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Company Profile

Concentrix Corporation (NASDAQ: CNXC) is a global technology and services company that helps businesses improve customer engagement, operational performance and digital experiences. The company provides customer experience management, business process outsourcing, technology services and consulting to organizations across industries including technology, retail, healthcare, financial services, communications and travel.

Its offerings include customer care and technical support, sales and revenue generation, fraud prevention, analytics, artificial intelligence, automation, digital transformation and back-office services.