Concentrix (NASDAQ:CNXC) Price Target Raised to $75.00 at Robert W. Baird

Concentrix (NASDAQ:CNXC) had its target price lifted by Robert W. Baird from $72.00 to $75.00 in a research note issued to investors on Thursday morning, Marketbeat reports. The brokerage currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Bank of America reduced their price objective on Concentrix from $65.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, June 27th. Wall Street Zen cut Concentrix from a “buy” rating to a “hold” rating in a research report on Saturday, June 21st. Barrington Research reissued an “outperform” rating and issued a $54.00 price objective on shares of Concentrix in a research report on Tuesday, June 24th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $80.00 price objective on shares of Concentrix in a research report 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $67.50.

Concentrix Stock Up 2.9%

Shares of Concentrix stock opened at $57.10 on Thursday. The stock has a market capitalization of $3.60 billion, a P/E ratio of 15.69, a PEG ratio of 0.74 and a beta of 0.53. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.14. The stock has a 50 day moving average price of $52.80 and a two-hundred day moving average price of $52.24. Concentrix has a 12-month low of $36.28 and a 12-month high of $66.00.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Thursday, June 26th. The company reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.06). The company had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.38 billion. Concentrix had a return on equity of 16.31% and a net margin of 2.54%.The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company 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. Equities analysts expect that Concentrix will post 10.11 earnings per share for the current year.

Concentrix Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th were paid a $0.3328 dividend. The ex-dividend date was Friday, July 25th. This represents a $1.33 dividend on an annualized basis and a dividend yield of 2.3%. Concentrix’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling at Concentrix

In other news, EVP Cormac J. Twomey sold 500 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president directly owned 37,130 shares in the company, valued at approximately $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 this link. Company insiders own 3.20% of the company’s stock.

Institutional Trading of Concentrix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its position in Concentrix by 13.4% in the second quarter. Osaic Holdings Inc. now owns 2,222 shares of the company’s stock worth $118,000 after purchasing an additional 263 shares during the period. Caxton Associates LLP acquired a new stake in Concentrix in the second quarter worth about $508,000. Corient Private Wealth LLC acquired a new stake in Concentrix in the second quarter worth about $292,000. State of Tennessee Department of Treasury increased its position in Concentrix by 368.4% in the second quarter. State of Tennessee Department of Treasury now owns 25,291 shares of the company’s stock worth $1,337,000 after purchasing an additional 19,891 shares during the period. Finally, Captrust Financial Advisors increased its position in Concentrix by 5.6% in the second quarter. Captrust Financial Advisors now owns 19,170 shares of the company’s stock worth $1,013,000 after purchasing an additional 1,021 shares during the period. 90.34% of the stock is currently owned by institutional investors and hedge funds.

Concentrix Company 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.