Concentrix (NASDAQ:CNXC) Shares Climb 4.9% – Here’s Why

Concentrix Corporation (NASDAQ:CNXC) rose 4.9% during trading on Tuesday. The stock traded as high as $26.90 and last traded at $26.7090. 60,637 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,643,716 shares. The stock had previously closed at $25.47.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CNXC shares. Robert W. Baird decreased their price objective on Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Zacks Research raised shares of Concentrix from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a report on Friday, July 24th. Canaccord Genuity Group reiterated a “buy” rating and issued a $45.00 target price on shares of Concentrix in a research report on Wednesday, September 30th. Finally, Bank of America reiterated a “neutral” rating and issued a $29.00 target price on shares of Concentrix in a research report on Thursday, October 1st. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Concentrix presently has a consensus rating of “Hold” and a consensus target price of $33.50.

Concentrix Stock Down 1.1%

The firm’s fifty day simple moving average is $27.32 and its two-hundred day simple moving average is $26.19. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.22. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -0.69, a price-to-earnings-growth ratio of 0.51 and a beta of 0.52.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Tuesday, September 29th. The company reported $2.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.71 by $0.21. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.48 billion. Concentrix had a negative net margin of 23.99% and a positive return on equity of 25.00%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter last year, the firm earned $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. Sell-side analysts anticipate that Concentrix Corporation will post 9.77 EPS for the current year.

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 3rd. Shareholders of record on Friday, October 23rd will be given a $0.37 dividend. 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 5.6%. The ex-dividend date is Friday, October 23rd. Concentrix’s dividend payout ratio (DPR) is presently -3.70%.

Hedge Funds Weigh In On Concentrix

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in shares of Concentrix during the 2nd quarter worth approximately $149,639,000. Pzena Investment Management LLC acquired a new stake in Concentrix in the 2nd quarter valued at approximately $76,488,000. Dimensional Fund Advisors LP increased its holdings in Concentrix by 18.5% in the 1st 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 last quarter. Groupe Bruxelles Lambert purchased a new stake in Concentrix in the second quarter valued at approximately $68,000,000. Finally, Kopernik Global Investors LLC purchased a new stake in Concentrix in the first quarter valued at approximately $44,523,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Concentrix

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.