Concentrix (NASDAQ:CNXC) Shares Gap Up – Here’s What Happened

Shares of Concentrix Corporation (NASDAQ:CNXC) gapped up before the market opened on Tuesday . The stock had previously closed at $23.42, but opened at $24.39. Concentrix shares last traded at $23.4750, with a volume of 210,921 shares.

Analyst Ratings Changes

CNXC has been the topic of several research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a research note on Monday, April 27th. Bank of America dropped their price objective on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Wall Street Zen downgraded shares of Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Robert W. Baird reduced their target price on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Finally, Canaccord Genuity Group lowered their price target on shares of Concentrix from $55.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $32.75.

Concentrix Price Performance

The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -1.00, a P/E/G ratio of 0.42 and a beta of 0.47. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average of $25.15 and a 200 day moving average of $31.27.

Concentrix (NASDAQ:CNXC) last posted its earnings results on Monday, June 29th. The company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.01). The business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The firm’s revenue was up 1.9% on a year-over-year basis. During the same period in the previous 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. Equities research analysts predict that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 6.7%. Concentrix’s payout ratio is presently -6.75%.

Insider Buying and Selling at Concentrix

In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the completion of the sale, the insider owned 2,773,667 shares of the company’s stock, valued at $61,714,090.75. This represents a 68.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Concentrix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its stake in shares of Concentrix by 2,107.6% in the 1st quarter. Pacer Advisors Inc. now owns 355,400 shares of the company’s stock valued at $9,724,000 after purchasing an additional 339,301 shares during the period. Empowered Funds LLC grew its holdings in shares of Concentrix by 21.6% during the first quarter. Empowered Funds LLC now owns 306,784 shares of the company’s stock worth $8,394,000 after buying an additional 54,585 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Concentrix during the 1st quarter worth approximately $331,000. Bank of America Corp DE raised its holdings in shares of Concentrix by 146.1% in the first quarter. Bank of America Corp DE now owns 697,191 shares of the company’s stock valued at $19,075,000 after purchasing an additional 413,913 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new stake in shares of Concentrix in the first quarter valued at approximately $6,680,000. 90.34% of the stock is owned by institutional investors and hedge funds.

Concentrix Company 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.