Concentrix (NASDAQ:CNXC) Shares Down 7.2% – Here’s What Happened

Shares of Concentrix Corporation (NASDAQ:CNXC) dropped 7.2% during mid-day trading on Wednesday . The company traded as low as $21.13 and last traded at $21.2090. Approximately 1,165,533 shares traded hands during trading, a decline of 31% from the average daily volume of 1,680,328 shares. The stock had previously closed at $22.85.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Canaccord Genuity Group dropped their price objective on shares of Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Wall Street Zen lowered shares of Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, March 28th. Zacks Research cut shares of Concentrix from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 2nd. Finally, Robert W. Baird decreased their target price on Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.75.

Concentrix Stock Performance

The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.46. The firm has a 50-day moving average of $25.21 and a 200 day moving average of $31.40. The stock has a market capitalization of $1.30 billion, a P/E ratio of -0.99, a PEG ratio of 0.43 and a beta of 0.47.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Monday, June 29th. The company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.01). Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the firm earned $2.70 EPS. The company’s quarterly revenue was up 1.9% compared to the same quarter last year. 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 EPS for the current fiscal year.

Concentrix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Friday, July 24th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 6.8%. Concentrix’s payout ratio is presently -6.75%.

Insider Activity

In other Concentrix news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the firm’s stock in a transaction dated Wednesday, April 29th. The shares were sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the completion of the transaction, the insider owned 2,773,667 shares in the company, valued at $61,714,090.75. This trade represents a 68.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andre S. Valentine acquired 2,500 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were bought at an average cost of $27.95 per share, for a total transaction of $69,875.00. Following the completion of the acquisition, the chief financial officer directly owned 89,066 shares of the company’s stock, valued at approximately $2,489,394.70. This represents a 2.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On Concentrix

Several hedge funds and other institutional investors have recently modified their holdings of CNXC. Royal Bank of Canada grew its position in Concentrix by 9.5% in the first quarter. Royal Bank of Canada now owns 47,501 shares of the company’s stock valued at $2,643,000 after acquiring an additional 4,133 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Concentrix by 75.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company’s stock valued at $23,552,000 after purchasing an additional 181,546 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Concentrix by 17.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company’s stock worth $8,152,000 after purchasing an additional 21,746 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Concentrix in the 1st quarter worth about $781,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Concentrix by 532.7% during 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. Institutional investors own 90.34% of the company’s stock.

Concentrix Company Profile

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.