Nierenberg Investment Management Company LLC Invests $1.44 Billion in Concentrix Corporation $CNXC

Nierenberg Investment Management Company LLC acquired a new stake in shares of Concentrix Corporation (NASDAQ:CNXC) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 64,480 shares of the company’s stock, valued at approximately $1,444,674,000. Concentrix accounts for about 0.7% of Nierenberg Investment Management Company LLC’s investment portfolio, making the stock its 18th biggest position.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Concentrix during the 2nd quarter worth $149,639,000. Pzena Investment Management LLC acquired a new position in Concentrix during the 2nd quarter valued at about $76,488,000. Groupe Bruxelles Lambert purchased a new stake in Concentrix in the second quarter valued at about $68,000,000. Kopernik Global Investors LLC purchased a new stake in Concentrix in the first quarter valued at about $44,523,000. Finally, AQR Capital Management LLC boosted its holdings in Concentrix by 25.5% in the second quarter. AQR Capital Management LLC now owns 4,305,469 shares of the company’s stock worth $226,252,000 after acquiring an additional 875,556 shares in the last quarter. Institutional investors and hedge funds own 90.34% of the company’s stock.

Analyst Ratings Changes

CNXC has been the topic of a number of research analyst reports. Robert W. Baird dropped their price target on Concentrix from $40.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Bank of America lowered their target price on shares of Concentrix from $32.00 to $26.00 and set a “neutral” rating for the company 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. Zacks Research downgraded shares of Concentrix from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 2nd. Finally, Barrington Research cut their price target on shares of Concentrix from $38.00 to $30.00 and set an “outperform” rating on the stock in a research note on Tuesday, June 30th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Concentrix has an average rating of “Hold” and a consensus price target of $32.75.

Concentrix Stock Up 8.7%

Shares of CNXC opened at $25.72 on Thursday. Concentrix Corporation has a 52 week low of $19.12 and a 52 week high of $57.88. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of -1.21, a PEG ratio of 0.43 and a beta of 0.45. The stock’s 50-day moving average price is $24.46 and its 200-day moving average price is $27.63.

Concentrix (NASDAQ:CNXC) last announced its quarterly earnings results on Monday, June 29th. The company reported $2.63 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm posted $2.70 earnings per share. The company’s revenue 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. On average, sell-side analysts predict that Concentrix Corporation will post 9.67 EPS for the current year.

Concentrix Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 4th. Stockholders of record on Friday, July 24th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Friday, July 24th. Concentrix’s payout ratio is -6.75%.

Concentrix Company 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.