PNC Financial Services Group Inc. Purchases 483 Shares of Concentrix Corporation $CNXC

PNC Financial Services Group Inc. raised its position in Concentrix Corporation (NASDAQ:CNXC) by 47.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,504 shares of the company’s stock after acquiring an additional 483 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Concentrix were worth $84,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Kestrel Investment Management Corp purchased a new position in Concentrix during the 1st quarter valued at about $5,950,000. Natixis Advisors LLC purchased a new position in shares of Concentrix during the first quarter valued at approximately $1,539,000. Arkadios Wealth Advisors bought a new position in shares of Concentrix during the first quarter valued at approximately $540,000. Bayforest Capital Ltd purchased a new stake in Concentrix in the first quarter worth $813,000. Finally, XTX Topco Ltd lifted its stake in Concentrix by 144.4% in the first quarter. XTX Topco Ltd now owns 13,913 shares of the company’s stock worth $774,000 after acquiring an additional 8,220 shares during the period. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Cormac J. Twomey sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $57.91, for a total value of $28,955.00. Following the transaction, the executive vice president directly owned 37,130 shares of the company’s stock, valued at approximately $2,150,198.30. This represents a 1.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by insiders.

Concentrix Stock Up 1.3%

Shares of NASDAQ:CNXC opened at $49.37 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.14. The stock has a fifty day simple moving average of $53.97 and a two-hundred day simple moving average of $51.43. Concentrix Corporation has a 12-month low of $36.28 and a 12-month high of $77.00. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 13.56, a PEG ratio of 0.65 and a beta of 0.53.

Concentrix (NASDAQ:CNXC) last posted its quarterly earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.76 by ($0.06). The company had revenue of $2.42 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.Concentrix’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 EPS. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. On average, research analysts anticipate that Concentrix Corporation will post 10.11 earnings per share for the current fiscal year.

Concentrix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were given a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 annualized dividend and a dividend yield of 2.7%. Concentrix’s dividend payout ratio (DPR) is 36.54%.

Analysts Set New Price Targets

Several brokerages have commented on CNXC. Bank of America decreased their price objective on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, June 27th. Barrington Research reissued an “outperform” rating and issued a $54.00 price target on shares of Concentrix in a research note on Tuesday, June 24th. Robert W. Baird upped their target price on Concentrix from $62.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, June 26th. Wall Street Zen lowered Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $80.00 target price on shares of Concentrix in a research note on Monday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $66.75.

About Concentrix

Concentrix Corporation engages in the provision of technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services, across various channels of communication, such as voice, chat, email, social media, asynchronous messaging, and custom applications.