Concentrix Corporation (NASDAQ:CNXC) Stock Now Rated “Hold” by Wall Street Brokerages

Shares of Concentrix Corporation (NASDAQ:CNXC) have been given an average recommendation of “Hold” by the six ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $33.50.

A number of research firms recently issued reports on CNXC. Canaccord Genuity Group reaffirmed a “buy” rating and set a $45.00 target price on shares of Concentrix in a report on Wednesday, September 30th. Bank of America restated a “neutral” rating and set a $29.00 price objective on shares of Concentrix in a research report on Thursday, October 1st. Zacks Research upgraded shares of Concentrix from a “strong sell” rating to a “hold” rating in a research report on Monday, August 31st. 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. Finally, 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.

Concentrix Stock Up 3.8%

Concentrix stock opened at $27.67 on Friday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -0.71, a PEG ratio of 0.51 and a beta of 0.52. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 2.22. The company’s 50-day moving average price is $27.35 and its two-hundred day moving average price is $26.19. Concentrix has a 52 week low of $19.12 and a 52 week high of $48.08.

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

Concentrix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 3rd. Investors of record on Friday, October 23rd will be issued a dividend of $0.37 per share. The ex-dividend date is Friday, October 23rd. This is a positive change from Concentrix’s previous quarterly dividend of $0.36. This represents a $1.48 dividend on an annualized basis and a yield of 5.3%. Concentrix’s payout ratio is -3.70%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its stake in shares of Concentrix by 9.8% during the 3rd quarter. GAMMA Investing LLC now owns 4,556 shares of the company’s stock worth $114,000 after acquiring an additional 405 shares in the last quarter. Engineers Gate Manager LP acquired a new position in shares of Concentrix in the 2nd quarter valued at $228,000. Arizona State Retirement System increased its stake in Concentrix by 14.8% in the 2nd quarter. Arizona State Retirement System now owns 11,783 shares of the company’s stock worth $264,000 after purchasing an additional 1,523 shares in the last quarter. Nykredit A S purchased a new position in Concentrix in the 2nd quarter worth about $29,000. Finally, Corient Private Wealth LP raised its holdings in Concentrix by 321.6% during the 2nd quarter. Corient Private Wealth LP now owns 121,597 shares of the company’s stock worth $2,724,000 after buying an additional 92,752 shares during the period. Institutional investors and hedge funds own 90.34% of the company’s stock.

About Concentrix

Concentrix Corporation (NASDAQ: CNXC) is a global technology and services company that helps businesses improve customer engagement, operational performance and digital experiences. The company provides customer experience management, business process outsourcing, technology services and consulting to organizations across industries including technology, retail, healthcare, financial services, communications and travel.

Its offerings include customer care and technical support, sales and revenue generation, fraud prevention, analytics, artificial intelligence, automation, digital transformation and back-office services.