Northern Trust Corp Has $29.09 Million Stock Position in Concentrix Corporation $CNXC

Northern Trust Corp boosted its stake in shares of Concentrix Corporation (NASDAQ:CNXC) by 6.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 522,746 shares of the company’s stock after purchasing an additional 30,527 shares during the quarter. Northern Trust Corp owned 0.82% of Concentrix worth $29,086,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. UMB Bank n.a. raised its stake in Concentrix by 47.3% during the 1st quarter. UMB Bank n.a. now owns 676 shares of the company’s stock valued at $38,000 after purchasing an additional 217 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Concentrix by 111.8% during the 1st quarter. First Horizon Advisors Inc. now owns 841 shares of the company’s stock valued at $47,000 after purchasing an additional 444 shares during the last quarter. American Century Companies Inc. raised its stake in Concentrix by 3.8% during the 1st quarter. American Century Companies Inc. now owns 12,942 shares of the company’s stock valued at $720,000 after purchasing an additional 476 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Concentrix by 47.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,504 shares of the company’s stock valued at $84,000 after purchasing an additional 483 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in Concentrix by 36.5% during the 1st quarter. Fifth Third Bancorp now owns 2,051 shares of the company’s stock valued at $114,000 after purchasing an additional 548 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Stock Up 4.8%

CNXC opened at $52.76 on Friday. The firm’s 50-day simple moving average is $53.46 and its 200-day simple moving average is $51.59. 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 Corporation has a twelve month low of $36.28 and a twelve month high of $76.95. The firm has a market cap of $3.33 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 0.70 and a beta of 0.53.

Concentrix (NASDAQ:CNXC) last posted its earnings results 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 firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the company posted $2.69 EPS. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.530-11.760 EPS. Q3 2025 guidance at 2.800-2.910 EPS. Equities research analysts anticipate that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th were issued a dividend of $0.3328 per share. The ex-dividend date of this dividend was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a yield of 2.5%. Concentrix’s dividend payout ratio is currently 36.54%.

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 sale, the executive vice president owned 37,130 shares of the company’s stock, valued at $2,150,198.30. This represents a 1.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CNXC shares. Wall Street Zen cut shares of Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday, June 21st. Robert W. Baird increased their price objective on shares of Concentrix from $62.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, June 26th. Bank of America dropped their price objective on shares of Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, June 27th. Barrington Research restated an “outperform” rating and issued a $54.00 price objective on shares of Concentrix in a research note on Tuesday, June 24th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price objective 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 issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $66.75.

Concentrix Profile

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.