Concentrix Corporation $CNXC Shares Sold by LPL Financial LLC

LPL Financial LLC trimmed its position in Concentrix Corporation (NASDAQ:CNXC) by 22.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,024 shares of the company’s stock after selling 6,515 shares during the period. LPL Financial LLC’s holdings in Concentrix were worth $1,281,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. lifted its position in shares of Concentrix by 7.9% in the first quarter. Envestnet Asset Management Inc. now owns 165,581 shares of the company’s stock valued at $9,213,000 after acquiring an additional 12,162 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Concentrix by 761.3% in the 1st quarter. GAMMA Investing LLC now owns 2,446 shares of the company’s stock valued at $136,000 after purchasing an additional 2,162 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Concentrix during the 4th quarter worth $294,000. Fifth Third Bancorp boosted its stake in Concentrix by 36.5% during the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company’s stock worth $114,000 after purchasing an additional 548 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Concentrix during the first quarter worth $495,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNXC has been the topic of several research reports. Wall Street Zen downgraded shares of Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Bank of America cut 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. Robert W. Baird boosted 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. Barrington Research restated an “outperform” rating and issued a $54.00 price target on shares of Concentrix in a research report on Tuesday, June 24th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $80.00 price objective on shares of Concentrix in a research report on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $66.75.

Insider Buying and Selling

In other Concentrix news, EVP Cormac J. Twomey sold 500 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $57.91, for a total transaction of $28,955.00. Following the completion of the transaction, the executive vice president owned 37,130 shares of the company’s stock, valued at $2,150,198.30. This trade represents a 1.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.20% of the stock is owned by insiders.

Concentrix Stock Up 4.9%

CNXC stock opened at $52.07 on Friday. Concentrix Corporation has a one year low of $36.28 and a one year high of $77.00. The firm has a market cap of $3.28 billion, a PE ratio of 14.30, a PEG ratio of 0.69 and a beta of 0.53. The firm’s 50 day moving average price is $53.76 and its 200-day moving average price is $51.48. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.61 and a current ratio of 1.61.

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

Concentrix Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Investors of record on Friday, July 25th were issued a $0.3328 dividend. This represents a $1.33 annualized dividend and a yield of 2.6%. The ex-dividend date was Friday, July 25th. Concentrix’s payout ratio is 36.54%.

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.