Concentrix (NASDAQ:CNXC) Shares Down 8.6% – Time to Sell?

Concentrix Corporation (NASDAQ:CNXC) shares were down 8.6% during mid-day trading on Thursday . The stock traded as low as $21.96 and last traded at $21.8470. Approximately 579,519 shares changed hands during mid-day trading, a decline of 65% from the average daily volume of 1,666,155 shares. The stock had previously closed at $23.89.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Concentrix in a research note on Monday, April 27th. Bank of America cut their price target on shares of Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a report on Tuesday, June 30th. Zacks Research downgraded shares of Concentrix from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Wall Street Zen lowered shares of Concentrix from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Robert W. Baird lowered their price objective 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 analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.75.

Concentrix Price Performance

The firm has a fifty day moving average of $25.11 and a 200 day moving average of $30.03. The company has a market capitalization of $1.33 billion, a P/E ratio of -1.03, a P/E/G ratio of 0.44 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 posted its 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). The company 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%. Concentrix’s revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.70 EPS. 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, equities research analysts anticipate that Concentrix Corporation will post 9.67 EPS for the current year.

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 4th. Investors of record on Friday, July 24th will be given a dividend of $0.36 per share. The ex-dividend date is Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a yield of 6.6%. Concentrix’s dividend payout ratio is -6.75%.

Insiders Place Their Bets

In related news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of Concentrix stock in a transaction on Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total value of $133,500,000.00. Following the completion of the sale, the insider owned 2,773,667 shares of the company’s stock, valued at $61,714,090.75. The trade was a 68.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Concentrix

Several hedge funds and other institutional investors have recently made changes to their positions in CNXC. Larson Financial Group LLC boosted its holdings in shares of Concentrix by 224.9% in the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after buying an additional 479 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Concentrix by 532.7% during the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after buying an additional 522 shares during the last quarter. Global Retirement Partners LLC increased its holdings in 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. Allworth Financial LP raised its position in Concentrix by 90.6% in the third quarter. Allworth Financial LP now owns 856 shares of the company’s stock worth $40,000 after acquiring an additional 407 shares during the period. Finally, Webster Bank N. A. bought a new position in Concentrix in the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.34% of the company’s stock.

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.