Concentrix (NASDAQ:CNXC) Shares Up 8% – Should You Buy?

Concentrix Corporation (NASDAQ:CNXC)’s share price traded up 8% during mid-day trading on Tuesday . The stock traded as high as $29.22 and last traded at $29.7320. 516,172 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 1,591,884 shares. The stock had previously closed at $27.53.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Barrington Research lowered their price objective on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Zacks Research upgraded Concentrix from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. Robert W. Baird decreased their price target on Concentrix from $40.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Concentrix in a research report on Friday, July 24th. Finally, Bank of America dropped their price objective on Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Concentrix currently has an average rating of “Hold” and an average target price of $32.75.

Concentrix Price Performance

The business has a 50-day moving average price of $26.84 and a 200 day moving average price of $26.72. The company has a market cap of $1.84 billion, a price-to-earnings ratio of -1.42, a P/E/G ratio of 0.56 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 issued 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 company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. Concentrix had a positive return on equity of 19.82% and a negative net margin of 13.16%.The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $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. As a group, research analysts expect that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th were given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.8%. The ex-dividend date was Friday, July 24th. Concentrix’s payout ratio is presently -6.75%.

Hedge Funds Weigh In On Concentrix

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Concentrix in the second quarter valued at about $149,639,000. Dimensional Fund Advisors LP lifted its stake in shares of Concentrix by 18.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,951,378 shares of the company’s stock worth $80,746,000 after buying an additional 460,108 shares during the last quarter. Pzena Investment Management LLC grew its stake in Concentrix by 0.5% in the 1st quarter. Pzena Investment Management LLC now owns 2,943,212 shares of the company’s stock valued at $80,526,000 after buying an additional 16,016 shares during the last quarter. Groupe Bruxelles Lambert acquired a new stake in shares of Concentrix in the second quarter worth $68,000,000. Finally, Kopernik Global Investors LLC acquired a new stake in Concentrix in the 1st quarter worth $44,523,000. Institutional investors and hedge funds own 90.34% of the company’s stock.

Concentrix Company Profile

Concentrix Corporation is a global technology and services company that helps organizations manage customer experience, business operations and digital transformation. Its offerings include customer care, technical support, sales and marketing services, back-office support, analytics, artificial intelligence and automation solutions.

The company serves clients across industries such as technology and consumer electronics, retail, banking and financial services, healthcare, communications and media, travel, and automotive.