Pzena Investment Management LLC Makes New Investment in Concentrix Corporation $CNXC

Pzena Investment Management LLC bought a new stake in shares of Concentrix Corporation (NASDAQ:CNXC) in the second quarter, HoldingsChannel reports. The institutional investor bought 3,413,879 shares of the company’s stock, valued at approximately $76,488,000. Pzena Investment Management LLC owned 0.06% of Concentrix at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in CNXC. BlackRock Inc. purchased a new position in shares of Concentrix during the second quarter valued at $149,639,000. Deutsche Bank AG bought a new stake in shares of Concentrix in the second quarter valued at about $1,084,000. Groupe Bruxelles Lambert purchased a new stake in Concentrix in the second quarter worth about $68,000,000. Bank of New York Mellon Corp purchased a new stake in Concentrix in the second quarter worth about $16,654,000. Finally, State of Wyoming bought a new position in Concentrix during the 2nd quarter worth about $173,000. 90.34% of the stock is currently owned by hedge funds and other institutional investors.

Concentrix Price Performance

Shares of CNXC stock opened at $23.33 on Tuesday. Concentrix Corporation has a 1-year low of $19.12 and a 1-year high of $57.88. The stock’s 50-day moving average is $24.53 and its 200 day moving average is $27.81. The company has a market cap of $1.42 billion, a P/E ratio of -1.09, a PEG ratio of 0.45 and a beta of 0.45. 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 (NASDAQ:CNXC) last posted its earnings results on Monday, June 29th. The company reported $2.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.64 by ($0.01). The company had revenue of $2.46 billion during 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 revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $2.70 EPS. 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 predict that Concentrix Corporation will post 9.67 earnings per share for the current fiscal year.

Concentrix Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were given a $0.36 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 6.2%. Concentrix’s payout ratio is presently -6.75%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Bank of America cut their target price on shares of Concentrix from $32.00 to $26.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Robert W. Baird dropped their price objective on shares of Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Weiss Ratings reiterated a “sell (d)” rating on shares of Concentrix in a research note on Friday, July 24th. Canaccord Genuity Group cut 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. Finally, Barrington Research reduced their price objective on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating for the company in a research note on Tuesday, June 30th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Concentrix currently has an average rating of “Hold” and a consensus target price of $32.75.

About Concentrix

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.