Man Group plc acquired a new stake in shares of Concentrix Corporation (NASDAQ:CNXC – Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 377,698 shares of the company’s stock, valued at approximately $8,462,000. Man Group plc owned 0.62% of Concentrix as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of CNXC. Hussman Strategic Advisors Inc. boosted its stake in shares of Concentrix by 100.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 84,000 shares of the company’s stock worth $3,493,000 after buying an additional 42,000 shares during the period. Groupe Bruxelles Lambert acquired a new position in Concentrix in the 2nd quarter valued at about $68,000,000. Pzena Investment Management LLC raised its stake in Concentrix by 32.3% during the 4th quarter. Pzena Investment Management LLC now owns 2,927,196 shares of the company’s stock valued at $121,713,000 after acquiring an additional 714,604 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Concentrix during the 4th quarter worth approximately $19,385,000. Finally, Empowered Funds LLC lifted its position in Concentrix by 21.6% during the 1st quarter. Empowered Funds LLC now owns 306,784 shares of the company’s stock worth $8,394,000 after acquiring an additional 54,585 shares during the period. Hedge funds and other institutional investors own 90.34% of the company’s stock.
Wall Street Analysts Forecast Growth
CNXC has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their target price on Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Barrington Research decreased their price target on Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Bank of America dropped their price objective on shares of Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. 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. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Concentrix in a research note on Friday, July 24th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Concentrix presently has an average rating of “Hold” and a consensus target price of $32.75.
Concentrix Stock Performance
CNXC opened at $29.38 on Friday. Concentrix Corporation has a 1-year low of $19.12 and a 1-year high of $57.88. The stock has a market cap of $1.79 billion, a P/E ratio of -1.38, a P/E/G ratio of 0.52 and a beta of 0.45. The stock’s 50 day simple moving average is $24.62 and its 200 day simple moving average is $27.15. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18.
Concentrix (NASDAQ:CNXC – Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.70 earnings per share. 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, equities analysts anticipate that Concentrix Corporation will post 9.67 EPS for the current fiscal year.
Concentrix Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Friday, July 24th. Concentrix’s dividend payout ratio is presently -6.75%.
Concentrix Profile
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.
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