Concentrix (NASDAQ:CNXC) Shares Climb 8.2% – What’s Next?

Concentrix Corporation (NASDAQ:CNXC) traded up 8.2% during mid-day trading on Thursday. The stock traded as high as $32.52 and last traded at $32.5550. Approximately 338,995 shares changed hands during trading, a decline of 79% from the average session volume of 1,623,615 shares. The stock had previously closed at $30.10.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CNXC. 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. Zacks Research upgraded Concentrix from a “strong sell” rating to a “hold” rating in a research note on Monday, August 31st. Bank of America reissued a “neutral” rating and set a $29.00 target price on shares of Concentrix in a report on Thursday, October 1st. Canaccord Genuity Group restated a “buy” rating and issued a $45.00 price target on shares of Concentrix in a research note on Wednesday, September 30th. Finally, Weiss Ratings reaffirmed 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 assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $33.50.

Concentrix Price Performance

The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.23 and a current ratio of 1.23. The company has a market cap of $2.09 billion, a price-to-earnings ratio of -0.88, a PEG ratio of 0.56 and a beta of 0.52. The business has a fifty day moving average price of $27.63 and a 200 day moving average price of $26.25.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Tuesday, September 29th. The company reported $2.92 EPS for the quarter, beating the consensus estimate of $2.71 by $0.21. Concentrix had a positive return on equity of 25.00% and a negative net margin of 23.99%. The firm had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period last year, the company earned $2.78 earnings per share. The business’s quarterly revenue was down 1.2% on a year-over-year basis. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. As a group, research analysts anticipate that Concentrix Corporation will post 9.77 earnings per share for the current year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 3rd. Shareholders of record on Friday, October 23rd will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 4.3%. This is a boost from Concentrix’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Friday, October 23rd. Concentrix’s payout ratio is presently -3.70%.

Hedge Funds Weigh In On Concentrix

A number of large investors have recently modified their holdings of the company. Vest Financial LLC boosted its stake in Concentrix by 19.6% during the 3rd quarter. Vest Financial LLC now owns 27,676 shares of the company’s stock valued at $691,000 after purchasing an additional 4,528 shares during the last quarter. GAMMA Investing LLC increased its holdings in Concentrix by 9.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,556 shares of the company’s stock worth $114,000 after purchasing an additional 405 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Concentrix in the second quarter worth approximately $228,000. Arizona State Retirement System raised its stake in shares of Concentrix by 14.8% in the second quarter. Arizona State Retirement System now owns 11,783 shares of the company’s stock worth $264,000 after purchasing an additional 1,523 shares during the last quarter. Finally, Nykredit A S purchased a new stake in shares of Concentrix in the second quarter worth approximately $29,000. 90.34% of the stock is currently owned by institutional investors.

About Concentrix

Concentrix Corporation (NASDAQ: CNXC) is a global technology and services company that helps businesses improve customer engagement and operational performance. Its offerings include customer experience management, digital operations, business process services, consulting, analytics, artificial intelligence, automation, and technology solutions.

The company supports customer care, technical support, sales, marketing, trust and safety, and back-office functions. Concentrix serves organizations across industries such as technology and electronics, retail, banking and financial services, healthcare, travel and transportation, communications and media, and automotive.

Concentrix operates across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.