VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 59,951 Concentrix Corporation $CNXC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Concentrix Corporation (NASDAQ:CNXC) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 59,951 shares of the company’s stock, valued at approximately $1,343,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. California State Teachers Retirement System grew its holdings in shares of Concentrix by 2,497.0% during the second quarter. California State Teachers Retirement System now owns 1,157,241 shares of the company’s stock valued at $25,928,000 after buying an additional 1,112,681 shares during the last quarter. Nykredit A S purchased a new position in Concentrix in the 2nd quarter worth approximately $29,000. Susquehanna Fundamental Investments LLC raised its holdings in Concentrix by 294.2% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 200,006 shares of the company’s stock worth $4,481,000 after acquiring an additional 149,263 shares during the last quarter. Hsbc Holdings PLC lifted its position in Concentrix by 32.7% in the 2nd quarter. Hsbc Holdings PLC now owns 108,186 shares of the company’s stock valued at $2,424,000 after acquiring an additional 26,682 shares in the last quarter. Finally, Empowered Funds LLC purchased a new stake in Concentrix during the 2nd quarter valued at $7,372,000. Institutional investors own 90.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CNXC shares. Zacks Research raised Concentrix from a “strong sell” rating to a “hold” rating in a report on Monday, August 31st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a report on Friday, July 24th. Canaccord Genuity Group dropped their price objective on Concentrix from $55.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, June 30th. Bank of America reduced their price objective on Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company in a report on Tuesday, June 30th. Finally, Barrington Research decreased their target price on Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $32.75.

Concentrix Trading Up 4.6%

Shares of CNXC stock opened at $28.24 on Friday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.46. Concentrix Corporation has a 12-month low of $19.12 and a 12-month high of $57.88. The stock has a market capitalization of $1.72 billion, a P/E ratio of -1.32, a P/E/G ratio of 0.52 and a beta of 0.47. The firm’s 50 day moving average is $25.88 and its 200 day moving average is $26.93.

Concentrix (NASDAQ:CNXC) last announced its earnings results on Monday, June 29th. The company reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.64 by ($0.01). The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Concentrix had a negative net margin of 13.16% and a positive return on equity of 19.82%. Concentrix’s quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.70 earnings per share. Concentrix has set its FY 2026 guidance at 10.830-11.180 EPS and its Q3 2026 guidance at 2.650-2.770 EPS. Research analysts expect that Concentrix Corporation will post 9.67 earnings per share for the current year.

Concentrix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Investors of record on Friday, July 24th were given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date was Friday, July 24th. Concentrix’s dividend payout ratio is -6.75%.

Concentrix Company Profile

Concentrix Corporation is a global technology and services company that helps organizations manage customer experience, business operations and digital transformation. Its offerings include customer care, technical support, sales and marketing services, back-office support, analytics, artificial intelligence and automation solutions.

The company serves clients across industries such as technology and consumer electronics, retail, banking and financial services, healthcare, communications and media, travel, and automotive.