Concentrix Corporation $CNXC Shares Sold by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al cut its stake in shares of Concentrix Corporation (NASDAQ:CNXC) by 62.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 22,451 shares of the company’s stock after selling 37,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Concentrix were worth $560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in CNXC. Pinnacle Wealth Planning Services Inc. increased its stake in shares of Concentrix by 230.3% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 2,312 shares of the company’s stock worth $58,000 after purchasing an additional 1,612 shares in the last quarter. Apollon Wealth Management LLC purchased a new position in Concentrix in the 3rd quarter valued at about $207,000. Yousif Capital Management LLC boosted its holdings in Concentrix by 16.0% in the 3rd quarter. Yousif Capital Management LLC now owns 15,602 shares of the company’s stock worth $389,000 after buying an additional 2,153 shares during the last quarter. Vest Financial LLC boosted its holdings in Concentrix by 19.6% in the 3rd quarter. Vest Financial LLC now owns 27,676 shares of the company’s stock worth $691,000 after buying an additional 4,528 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Concentrix by 9.8% in the 3rd quarter. GAMMA Investing LLC now owns 4,556 shares of the company’s stock worth $114,000 after buying an additional 405 shares during the last quarter. 90.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on CNXC. Zacks Research raised Concentrix from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Canaccord Genuity Group reissued a “buy” rating and issued a $45.00 price objective on shares of Concentrix in a research note on Wednesday, September 30th. Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a report on Thursday, October 22nd. Finally, Bank of America reaffirmed a “neutral” rating and set a $29.00 target price on shares of Concentrix in a research note on Thursday, October 1st. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Concentrix has a consensus rating of “Hold” and a consensus price target of $33.50.

Concentrix Trading Down 2.5%

Shares of CNXC traded down $0.79 during midday trading on Friday, reaching $30.32. The company had a trading volume of 894,054 shares, compared to its average volume of 1,095,653. The firm has a 50 day simple moving average of $28.82 and a 200-day simple moving average of $28.40. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 2.22. The stock has a market cap of $1.85 billion, a PE ratio of -0.78, a price-to-earnings-growth ratio of 0.59 and a beta of 0.48. Concentrix Corporation has a 1-year low of $19.12 and a 1-year high of $44.78.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Tuesday, September 29th. The company reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.71 by $0.21. Concentrix had a negative net margin of 23.99% and a positive return on equity of 25.00%. The company had revenue of $2.45 billion during the quarter, compared to analyst estimates of $2.48 billion. During the same quarter last year, the firm posted $2.78 earnings per share. Concentrix’s revenue was down 1.2% compared to the same quarter last year. Concentrix has set its FY 2026 guidance at 10.970-11.090 EPS and its Q4 2026 guidance at 2.860-2.980 EPS. Research analysts forecast that Concentrix Corporation will post 9.77 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 3rd. Investors of record on Friday, October 23rd were issued a dividend of $0.37 per share. This is a positive change from Concentrix’s previous quarterly dividend of $0.36. The ex-dividend date was Friday, October 23rd. This represents a $1.48 dividend on an annualized basis and a yield of 4.9%. Concentrix’s dividend payout ratio (DPR) is -3.80%.

About Concentrix

Concentrix Corporation (NASDAQ: CNXC) is a global technology and services company that helps businesses improve customer engagement and operational performance. Its offerings include customer experience management, digital operations, business process services, consulting, analytics, artificial intelligence, automation, and technology solutions.

The company supports customer care, technical support, sales, marketing, trust and safety, and back-office functions. Concentrix serves organizations across industries such as technology and electronics, retail, banking and financial services, healthcare, travel and transportation, communications and media, and automotive.

Concentrix operates across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.