Concentrix (NASDAQ:CNXC) Sets New 52-Week Low – Time to Sell?

Concentrix Corporation (NASDAQ:CNXC)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $33.43 and last traded at $33.64, with a volume of 599206 shares. The stock had previously closed at $35.27.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CNXC. Robert W. Baird decreased their price objective on Concentrix from $75.00 to $62.00 and set an “outperform” rating for the company in a report on Monday, September 29th. Wall Street Zen raised Concentrix from a “hold” rating to a “buy” rating in a research report on Saturday, October 25th. Canaccord Genuity Group restated a “buy” rating and issued a $80.00 price target on shares of Concentrix in a research note on Tuesday, September 23rd. Weiss Ratings raised Concentrix from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Finally, Barrington Research reissued an “outperform” rating and issued a $62.00 price objective on shares of Concentrix in a report on Wednesday, September 24th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.25.

Concentrix Stock Down 5.0%

The stock has a 50-day moving average of $46.47 and a 200-day moving average of $51.32. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.56 and a quick ratio of 1.56. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 7.08, a P/E/G ratio of 0.51 and a beta of 0.49.

Concentrix (NASDAQ:CNXC) last released its earnings results on Thursday, September 25th. The company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.88 by ($0.10). Concentrix had a return on equity of 16.02% and a net margin of 3.25%.The company had revenue of $2.48 billion for the quarter, compared to analyst estimates of $2.46 billion. During the same period last year, the company posted $2.87 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Concentrix has set its FY 2025 guidance at 11.110-11.230 EPS. Q4 2025 guidance at 2.850-2.960 EPS. Sell-side analysts predict that Concentrix Corporation will post 10.11 EPS for the current fiscal year.

Concentrix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 4th. Investors of record on Friday, October 24th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.3%. This is a positive change from Concentrix’s previous quarterly dividend of $0.33. The ex-dividend date of this dividend was Friday, October 24th. Concentrix’s payout ratio is 30.44%.

Insider Activity

In other Concentrix news, CEO Christopher A. Caldwell bought 2,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The shares were purchased at an average price of $42.03 per share, for a total transaction of $84,060.00. Following the completion of the transaction, the chief executive officer directly owned 286,661 shares in the company, valued at approximately $12,048,361.83. The trade was a 0.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. In the last 90 days, insiders acquired 4,000 shares of company stock valued at $169,410. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On Concentrix

Large investors have recently bought and sold shares of the company. Huntington National Bank boosted its position in Concentrix by 6,011.1% during the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock worth $25,000 after buying an additional 541 shares during the period. Geneos Wealth Management Inc. increased its position in Concentrix by 532.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after acquiring an additional 522 shares during the period. Quent Capital LLC bought a new position in shares of Concentrix during the third quarter valued at $29,000. Larson Financial Group LLC raised its stake in shares of Concentrix by 224.9% during the third quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock valued at $32,000 after acquiring an additional 479 shares during the last quarter. Finally, IFP Advisors Inc grew its stake in shares of Concentrix by 473.8% in the second quarter. IFP Advisors Inc now owns 700 shares of the company’s stock worth $37,000 after purchasing an additional 578 shares during the last quarter. 90.34% of the stock is currently owned by institutional investors.

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.