Concentrix Corporation $CNXC is Nierenberg Investment Management Company Inc.’s 10th Largest Position

Nierenberg Investment Management Company Inc. lowered its holdings in Concentrix Corporation (NASDAQ:CNXC) by 21.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,480 shares of the company’s stock after selling 14,000 shares during the quarter. Concentrix accounts for 1.4% of Nierenberg Investment Management Company Inc.’s holdings, making the stock its 10th largest holding. Nierenberg Investment Management Company Inc. owned 0.08% of Concentrix worth $2,668,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. lifted its position in Concentrix by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company’s stock valued at $9,213,000 after buying an additional 12,162 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of Concentrix by 19.7% during the second quarter. State of Alaska Department of Revenue now owns 77,478 shares of the company’s stock valued at $4,094,000 after acquiring an additional 12,745 shares during the last quarter. Focus Partners Advisor Solutions LLC raised its stake in shares of Concentrix by 50.1% in the 2nd quarter. Focus Partners Advisor Solutions LLC now owns 17,981 shares of the company’s stock valued at $950,000 after acquiring an additional 5,998 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Concentrix in the 2nd quarter worth approximately $1,689,000. Finally, Savant Capital LLC boosted its position in shares of Concentrix by 46.1% during the 2nd quarter. Savant Capital LLC now owns 77,733 shares of the company’s stock worth $4,109,000 after purchasing an additional 24,544 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CNXC. 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. Barrington Research reaffirmed an “outperform” rating and issued a $62.00 price objective on shares of Concentrix in a research note on Wednesday, September 24th. Robert W. Baird decreased their target price on Concentrix from $75.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, September 29th. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Finally, Weiss Ratings upgraded shares of Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.25.

Insider Buying and Selling

In other news, CEO Christopher A. Caldwell purchased 2,000 shares of the stock in a transaction on Thursday, October 30th. The stock was bought at an average price of $42.03 per share, for a total transaction of $84,060.00. Following the acquisition, the chief executive officer directly owned 286,661 shares of the company’s stock, valued at approximately $12,048,361.83. The trade was a 0.70% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have purchased 4,000 shares of company stock worth $169,410. Insiders own 3.20% of the company’s stock.

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 firm has a market cap of $2.02 billion, a PE ratio of 6.87, a price-to-earnings-growth ratio of 0.48 and a beta of 0.49. 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 has a fifty day moving average price of $45.67 and a 200 day moving average price of $51.07.

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

Concentrix Increases Dividend

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

About Concentrix

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.