Nierenberg Investment Management Company LLC Makes New Investment in Concentrix Corporation $CNXC

Nierenberg Investment Management Company LLC bought a new stake in shares of Concentrix Corporation (NASDAQ:CNXC) during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 64,480 shares of the company’s stock, valued at approximately $1,444,674. Concentrix comprises about 0.0% of Nierenberg Investment Management Company LLC’s holdings, making the stock its 18th biggest position. Nierenberg Investment Management Company LLC owned about 0.11% of Concentrix at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in shares of Concentrix by 9.5% in the 1st quarter. Royal Bank of Canada now owns 47,501 shares of the company’s stock valued at $2,643,000 after purchasing an additional 4,133 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Concentrix by 75.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 423,287 shares of the company’s stock valued at $23,552,000 after acquiring an additional 181,546 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Concentrix by 17.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 146,515 shares of the company’s stock worth $8,152,000 after acquiring an additional 21,746 shares during the period. Focus Partners Wealth bought a new stake in shares of Concentrix during the first quarter worth about $781,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Concentrix by 532.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock worth $34,000 after buying an additional 522 shares during the period. 90.34% of the stock is owned by institutional investors.

Concentrix Price Performance

Shares of CNXC traded up $1.27 during midday trading on Friday, hitting $29.40. 568,088 shares of the company traded hands, compared to its average volume of 1,588,261. The firm has a market cap of $1.79 billion, a P/E ratio of -1.38, a PEG ratio of 0.51 and a beta of 0.45. The stock has a 50-day moving average of $24.53 and a 200-day moving average of $27.13. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.18 and a quick ratio of 1.18. Concentrix Corporation has a one year low of $19.12 and a one year high of $57.88.

Concentrix (NASDAQ:CNXC) last released its quarterly earnings results on Monday, June 29th. The company reported $2.63 EPS for the quarter, missing the consensus estimate of $2.64 by ($0.01). Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the company earned $2.70 EPS. Concentrix’s revenue for the quarter was up 1.9% compared to the same quarter last year. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. As a group, sell-side analysts predict that Concentrix Corporation will post 9.67 EPS for the current fiscal year.

Concentrix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Shareholders of record on Friday, July 24th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.44 annualized dividend and a yield of 4.9%. Concentrix’s dividend payout ratio is -6.75%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CNXC. Barrington Research dropped their price target on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, June 30th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a research note on Friday, July 24th. Canaccord Genuity Group decreased their price objective on shares of Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, June 30th. Zacks Research downgraded Concentrix from a “hold” rating to a “strong sell” rating in a report on Thursday, July 2nd. Finally, Bank of America dropped their price target on Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 30th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $32.75.

Concentrix Profile

Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.

Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.