Concentrix (NASDAQ:CNXC) Stock Price Down 6% – Here’s Why

Shares of Concentrix Corporation (NASDAQ:CNXC) traded down 6% on Thursday . The stock traded as low as $28.87 and last traded at $28.3850. 46,009 shares were traded during mid-day trading, a decline of 97% from the average session volume of 1,598,258 shares. The stock had previously closed at $30.21.

Analyst Upgrades and Downgrades

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

Concentrix Stock Performance

The business has a 50-day moving average of $26.84 and a two-hundred day moving average of $26.72. The company has a market cap of $1.77 billion, a P/E ratio of -1.36, a P/E/G ratio of 0.56 and a beta of 0.47. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.01). The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior 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. On average, sell-side analysts predict that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.0%. The ex-dividend date was Friday, July 24th. Concentrix’s payout ratio is -6.75%.

Institutional Investors Weigh In On Concentrix

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Concentrix in the second quarter worth $149,639,000. Pzena Investment Management LLC purchased a new stake in shares of Concentrix during the 2nd quarter valued at $76,488,000. Dimensional Fund Advisors LP lifted its holdings in shares of Concentrix by 18.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,951,378 shares of the company’s stock valued at $80,746,000 after purchasing an additional 460,108 shares during the last quarter. Groupe Bruxelles Lambert acquired a new stake in shares of Concentrix in the 2nd quarter worth $68,000,000. Finally, Kopernik Global Investors LLC acquired a new stake in shares of Concentrix in the 1st quarter worth $44,523,000. 90.34% of the stock is currently owned by institutional investors and hedge funds.

About Concentrix

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.