Concentrix (NASDAQ:CNXC) Stock Price Down 7.2% – Here’s What Happened

Concentrix Corporation (NASDAQ:CNXC)’s share price dropped 7.2% on Wednesday . The company traded as low as $21.13 and last traded at $21.2090. Approximately 1,165,533 shares changed hands during mid-day trading, a decline of 31% from the average daily volume of 1,680,328 shares. The stock had previously closed at $22.85.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on CNXC shares. Barrington Research decreased their price objective 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. Weiss Ratings reiterated a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Bank of America decreased their price target on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a research note on Tuesday, June 30th. Zacks Research lowered Concentrix from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Finally, Canaccord Genuity Group dropped their price objective on Concentrix from $55.00 to $45.00 and set a “buy” rating for the company in a 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, Concentrix has a consensus rating of “Hold” and an average target price of $32.75.

Concentrix Stock Up 5.6%

The company’s 50 day moving average price is $25.06 and its two-hundred day moving average price is $31.12. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.35 billion, a P/E ratio of -1.03, a P/E/G ratio of 0.39 and a beta of 0.47.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings data on Monday, June 29th. The company reported $2.63 earnings per share (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 positive return on equity of 19.82% and a negative net margin of 13.16%.The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company earned $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, research analysts expect that Concentrix Corporation will post 9.67 earnings per share for the current year.

Concentrix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.5%. Concentrix’s dividend payout ratio is presently -6.75%.

Insider Activity at Concentrix

In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the transaction, the insider owned 2,773,667 shares in the company, valued at approximately $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNXC. Handelsbanken Fonder AB increased its position in Concentrix by 5.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 11,200 shares of the company’s stock valued at $251,000 after purchasing an additional 600 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Concentrix by 2,107.6% during the first quarter. Pacer Advisors Inc. now owns 355,400 shares of the company’s stock valued at $9,724,000 after purchasing an additional 339,301 shares in the last quarter. Empowered Funds LLC increased its holdings in Concentrix by 21.6% during the first quarter. Empowered Funds LLC now owns 306,784 shares of the company’s stock valued at $8,394,000 after buying an additional 54,585 shares during the period. Militia Capital Management LLC purchased a new position in Concentrix during the first quarter valued at approximately $331,000. Finally, Bank of America Corp DE increased its holdings in Concentrix by 146.1% during the first quarter. Bank of America Corp DE now owns 697,191 shares of the company’s stock valued at $19,075,000 after buying an additional 413,913 shares during the period. 90.34% of the stock is currently owned by institutional investors.

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.