37,500 Concentrix Corporation $CNXC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in shares of Concentrix Corporation (NASDAQ:CNXC) by 62.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 22,451 shares of the company’s stock after selling 37,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Concentrix were worth $560,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Concentrix during the 2nd quarter worth $149,639,000. Bank of America Corp DE acquired a new stake in shares of Concentrix in the 2nd quarter worth $18,248,000. Groupe Bruxelles Lambert purchased a new position in Concentrix during the 2nd quarter worth $68,000,000. Deutsche Bank AG acquired a new position in Concentrix during the 2nd quarter valued at about $1,084,000. Finally, Legal & General Group Plc purchased a new stake in Concentrix in the second quarter valued at about $3,337,000. Institutional investors own 90.34% of the company’s stock.

Concentrix Stock Performance

NASDAQ CNXC traded down $0.79 during mid-day trading on Friday, reaching $30.32. 894,054 shares of the stock were exchanged, compared to its average volume of 1,095,653. The company has a market capitalization of $1.85 billion, a P/E ratio of -0.78, a P/E/G ratio of 0.59 and a beta of 0.48. 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 business’s 50 day moving average is $28.82 and its 200-day moving average is $28.40. Concentrix Corporation has a 1 year low of $19.12 and a 1 year high of $44.78.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings data on Tuesday, September 29th. The company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.21. Concentrix had a negative net margin of 23.99% and a positive return on equity of 25.00%. The business had revenue of $2.45 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same quarter in the prior year, the firm posted $2.78 earnings per share. The company’s revenue was down 1.2% compared to the same quarter last year. 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, equities research analysts forecast that Concentrix Corporation will post 9.77 EPS for the current fiscal year.

Concentrix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 3rd. Investors of record on Friday, October 23rd were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, October 23rd. This is a positive change from Concentrix’s previous quarterly dividend of $0.36. Concentrix’s payout ratio is currently -3.80%.

Analyst Upgrades and Downgrades

CNXC has been the subject of several research analyst reports. Zacks Research raised shares of Concentrix from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a report on Thursday, October 22nd. Canaccord Genuity Group reissued a “buy” rating and set a $45.00 target price on shares of Concentrix in a report on Wednesday, September 30th. Finally, Bank of America restated a “neutral” rating and set 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 given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $33.50.

Concentrix Company Profile

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.