Rhumbline Advisers Cuts Stock Holdings in Concentrix Corporation $CNXC

Rhumbline Advisers reduced its position in shares of Concentrix Corporation (NASDAQ:CNXC) by 3.3% in the 1st quarter, HoldingsChannel reports. The firm owned 124,378 shares of the company’s stock after selling 4,239 shares during the period. Rhumbline Advisers’ holdings in Concentrix were worth $6,920,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. raised its holdings in Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after purchasing an additional 522 shares in the last quarter. UMB Bank n.a. increased its holdings in Concentrix by 47.3% in the first quarter. UMB Bank n.a. now owns 676 shares of the company’s stock valued at $38,000 after buying an additional 217 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Concentrix by 111.8% in the first quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock valued at $47,000 after buying an additional 444 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Concentrix by 47.3% in the first quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company’s stock valued at $84,000 after buying an additional 483 shares in the last quarter. Finally, Fifth Third Bancorp increased its holdings in Concentrix by 36.5% in the first quarter. Fifth Third Bancorp now owns 2,051 shares of the company’s stock valued at $114,000 after buying an additional 548 shares in the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Concentrix

In related news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total transaction of $28,955.00. Following the sale, the executive vice president owned 37,130 shares in the company, valued at approximately $2,150,198.30. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.20% of the company’s stock.

Wall Street Analysts Forecast Growth

CNXC has been the subject of a number of research analyst reports. Wall Street Zen cut shares of Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, June 21st. Barrington Research reaffirmed an “outperform” rating and issued a $54.00 target price on shares of Concentrix in a report on Tuesday, June 24th. Bank of America dropped their target price on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, June 27th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $80.00 target price on shares of Concentrix in a report on Monday, June 30th. Finally, Robert W. Baird increased their target price on shares of Concentrix from $62.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $66.75.

Concentrix Stock Down 0.1%

CNXC stock opened at $53.97 on Friday. The company’s 50 day simple moving average is $53.11 and its 200-day simple moving average is $51.95. The firm has a market capitalization of $3.40 billion, a PE ratio of 14.83, a P/E/G ratio of 0.72 and a beta of 0.53. Concentrix Corporation has a 12 month low of $36.28 and a 12 month high of $68.56. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.61 and a quick ratio of 1.61.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.06). Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same quarter last year, the business posted $2.69 EPS. The firm’s revenue was up 1.5% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. Equities analysts expect that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were given a dividend of $0.3328 per share. The ex-dividend date was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. Concentrix’s dividend payout ratio (DPR) is 36.54%.

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.