Concentrix Corporation $CNXC Shares Sold by Nierenberg Investment Management Company Inc.

Nierenberg Investment Management Company Inc. lowered its holdings in Concentrix Corporation (NASDAQ:CNXC) by 21.7% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 50,480 shares of the company’s stock after selling 14,000 shares during the quarter. Concentrix comprises 1.4% of Nierenberg Investment Management Company Inc.’s investment portfolio, making the stock its 10th biggest holding. Nierenberg Investment Management Company Inc.’s holdings in Concentrix were worth $2,668,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Concentrix by 2.1% in the first quarter. Vanguard Group Inc. now owns 5,242,763 shares of the company’s stock valued at $291,707,000 after purchasing an additional 106,217 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Concentrix by 850.1% during the 1st quarter. AQR Capital Management LLC now owns 3,429,913 shares of the company’s stock worth $190,840,000 after buying an additional 3,068,916 shares during the last quarter. Boston Partners boosted its holdings in shares of Concentrix by 17.1% in the 1st quarter. Boston Partners now owns 624,274 shares of the company’s stock valued at $33,991,000 after buying an additional 91,130 shares in the last quarter. Northern Trust Corp grew its position in shares of Concentrix by 6.2% in the 1st quarter. Northern Trust Corp now owns 522,746 shares of the company’s stock valued at $29,086,000 after buying an additional 30,527 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in Concentrix by 5.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 514,924 shares of the company’s stock worth $28,650,000 after acquiring an additional 26,746 shares in the last quarter. Hedge funds and other institutional investors own 90.34% of the company’s stock.

Insider Transactions at Concentrix

In other news, CEO Christopher A. Caldwell purchased 2,000 shares of the business’s stock in a transaction that occurred on Thursday, October 30th. The stock was purchased at an average cost of $42.03 per share, with a total value of $84,060.00. Following the completion of the acquisition, the chief executive officer directly owned 286,661 shares of the company’s stock, valued at approximately $12,048,361.83. This trade represents a 0.70% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders have bought 4,000 shares of company stock worth $169,410 over the last three months. Corporate insiders own 3.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barrington Research restated an “outperform” rating and issued a $62.00 price objective on shares of Concentrix in a research note on Wednesday, September 24th. Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 target price on shares of Concentrix in a research report on Tuesday, September 23rd. Weiss Ratings raised Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Robert W. Baird reduced their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, September 29th. Finally, Wall Street Zen upgraded shares of Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Concentrix presently has an average rating of “Moderate Buy” and an average target price of $66.25.

Concentrix Trading Down 3.0%

NASDAQ:CNXC opened at $32.50 on Wednesday. Concentrix Corporation has a 12-month low of $32.40 and a 12-month high of $66.00. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 1.10. The stock’s 50 day simple moving average is $45.67 and its 200-day simple moving average is $51.07. The firm has a market cap of $2.02 billion, a P/E ratio of 6.87, a PEG ratio of 0.48 and a beta of 0.49.

Concentrix (NASDAQ:CNXC) last issued its quarterly earnings results on Thursday, September 25th. The company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.88 by ($0.10). The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. Concentrix had a return on equity of 16.02% and a net margin of 3.25%.Concentrix’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business earned $2.87 earnings per share. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS. Q4 2025 guidance at 2.850-2.960 EPS. Equities analysts anticipate that Concentrix Corporation will post 10.11 EPS for the current year.

Concentrix Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 4th. Stockholders of record on Friday, October 24th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.4%. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, October 24th. Concentrix’s dividend payout ratio (DPR) is presently 30.44%.

Concentrix Company Profile

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.