Concentrix (NASDAQ:CNXC) Stock Price Down 6.4% – Here’s What Happened

Concentrix Corporation (NASDAQ:CNXC)’s stock price was down 6.4% on Tuesday . The company traded as low as $29.75 and last traded at $30.10. 123,869 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,578,621 shares. The stock had previously closed at $32.16.

Wall Street Analyst Weigh In

CNXC has been the subject of a number of recent research reports. Zacks Research raised shares of Concentrix from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Robert W. Baird lowered their target price on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a report on Tuesday, June 30th. Canaccord Genuity Group dropped their price target on Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Barrington Research cut their price target on Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Finally, Bank of America reduced their price objective on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, June 30th. Three equities 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, the company currently has a consensus rating of “Hold” and an average target price of $32.75.

Concentrix Trading Down 8.9%

The stock’s 50 day moving average is $25.55 and its 200-day moving average is $27.03. The company has a market cap of $1.79 billion, a P/E ratio of -1.37, a PEG ratio of 0.59 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.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings data on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.01). The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate 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 for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business 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. Research analysts anticipate that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.44 annualized dividend and a dividend yield of 4.9%. Concentrix’s dividend payout ratio (DPR) is -6.75%.

Hedge Funds Weigh In On Concentrix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CNXC. Geneos Wealth Management Inc. increased its holdings in shares of Concentrix by 532.7% in the 1st 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. Larson Financial Group LLC lifted its holdings in shares of Concentrix by 224.9% during the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock valued at $32,000 after purchasing an additional 479 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Concentrix by 1,032.5% during the fourth quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock valued at $36,000 after buying an additional 795 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Concentrix during the second quarter valued at $25,000. Finally, Rothschild Investment LLC increased its holdings in Concentrix by 52.0% in the 4th quarter. Rothschild Investment LLC now owns 1,146 shares of the company’s stock worth $48,000 after buying an additional 392 shares in the last quarter. 90.34% of the stock is owned by institutional investors.

About Concentrix

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.