# Concentrix Corporation (CNXC)

> Source: Nexqual · https://nexqual.com/CNXC · data as of 2026-10-23 20:00 UTC · cite as "Nexqual, Concentrix Corporation (CNXC), nexqual.com/CNXC" · informational, not investment advice.

**Price:** USD 33 (-2.60% on the day) · last close of Oct 23, 2026; US market closed, not a live price. Prev close 33.88 · day 31.28–33.52 · 52w 19.12–47.8 · market cap $2.02B · NMS

## Key facts
- Last four reported quarters (through Aug 31, 2026): revenue $9.97B, net income -$2.39B (-24.0% margin), free cash flow $575M (SEC filings).
- 2 of 80 tracked superinvestors hold CNXC (13F, Q2 2026): 0 new, 1 added, 1 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $134M; 1 not under a Rule 10b5-1 plan ($134M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $91K; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.20 on a 1–5 scale) (5 analysts), mean target USD 32.6 (range 29–45).
- Total return with dividends: 1Y -26.1% vs S&P 500 +13.4%; 5Y -79.1% vs S&P 500 +76.9%.
- Next earnings: 2026-09-29, EPS estimate USD 2.92, revenue estimate $2.44B.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $5.59B | $6.32B | $7.11B | $9.62B | $9.83B | $9.97B |
| Gross profit | $1.97B | $2.26B | $2.58B | $3.45B | $3.44B | — |
| Operating income | $572M | $640M | $661M | $596M | -$918M | -$2.08B |
| Net income | $406M | $435M | $314M | $251M | -$1.28B | -$2.39B |
| EPS (diluted) | $7.70 | $8.28 | $5.70 | $3.71 | -$20.36 | — |
| Free cash flow | $365M | $461M | $497M | $429M | $572M | $575M |
| Gross margin | 35.3% | 35.7% | 36.2% | 35.9% | 35.0% | — |
| Operating margin | 10.2% | 10.1% | 9.3% | 6.2% | -9.3% | -20.9% |
| Net margin | 7.3% | 6.9% | 4.4% | 2.6% | -13.0% | -24.0% |
| Revenue growth | +18.4% | +13.2% | +12.5% | +35.2% | +2.2% | — |
| Cash + short-term investments | $182M | $145M | $295M | $241M | $327M | — |
| Total debt | $802M | $2.22B | $4.94B | $4.74B | $4.64B | — |
Fiscal years end Nov. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Aug 31, 2026)
P/S 0.2x · EV/Sales 0.6x · P/FCF 3.5x · P/B 1.1x · FCF yield 28.52% · Earnings yield -118.55% · Dividend yield (paid, TTM) 4.59% · Buyback yield (TTM) 4.92% · Net debt $4.13B · EV $6.15B
P/E at fiscal year-ends: Nov 2024 11.6x, Nov 2023 16.2x.

## Superinvestors (SEC 13F-HR, Q2 2026)
2 of 80 tracked investors hold CNXC. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Richard Pzena | Pzena Investment Management | 0.22% | $76.5M | Added +16.0% |
| Tweedy Browne |  | 0.02% | $301K | Reduced -1.4% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-04-29 | Groupe Bruxelles Lambert |  | 6,000,000 | $134M | 68.4% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Insider purchases (SEC Form 4, open-market, last ~7 months)
2 purchases, $91K. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-08 | Caldwell Christopher A | President and CEO | 1,000 | $21K | 21.25 | Too little history (no open-market trades in 2023) |
| 2026-04-09 | Valentine Andre S | Chief Financial Officer | 2,500 | $70K | 27.95 | Too little history (no open-market trades in 2023–2025) |

## Analysts
Consensus Buy (mean 2.20 on a 1–5 scale), 5 analysts; mean target USD 32.6 (low 29, high 45).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-30 | Canaccord Genuity | Maintained | Buy | $45 |
| 2026-06-30 | B of A Securities | Target lowered | Neutral | $32 → $26 |
| 2026-06-30 | Canaccord Genuity | Target lowered | Buy | $55 → $45 |
| 2026-06-30 | Barrington Research | Target lowered | Outperform | $38 → $30 |
| 2026-06-30 | Baird | Target lowered | Outperform | $40 → $30 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-24) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -26.1% | -79.1% |
| S&P 500 (SPY) | +13.4% | +76.9% |
| Per year | -26.1% | -26.9% |
| Volatility (annualized) | 72.0% | 48.2% |
| Max drawdown | -54.3% (Oct 2025→Jul 2026) | -88.1% (Mar 2022→Jul 2026) |

## Peers (Information Technology Services)
PONY (Pony AI Inc.) USD 5.14 +2.39% · CHRN (ChronoScale Holdings Corporatio) USD 14.77 -4.46% · CSQR (Csquare, Inc.) USD 14.93 +0.20% · DXC (DXC Technology Company) USD 16.09 +0.06% · PENG (Penguin Solutions, Inc.) USD 53.41 +2.89% · KD (Kyndryl Holdings, Inc.) USD 14.76 -2.89%

## More
Full page: https://nexqual.com/CNXC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CNXC's own 10-K filed 2026-01-28 (https://www.sec.gov/Archives/edgar/data/1803599/000180359926000027/cnxc-20251130.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | IBM (IBM) | "•Selectively Pursue Strategic Acquisitions: We have made targeted acquisitions to increase our technology expertise, enter new verticals and geographies, and increase our scale, including our acquisitions of the IBM Cust…" |
| Customer | Convergys | "•Selectively Pursue Strategic Acquisitions: We have made targeted acquisitions to increase our technology expertise, enter new verticals and geographies, and increase our scale, including our acquisitions of the IBM Cust…" |
| Competitor | Accenture (ACN) | "Our major competitors include Accenture plc, Capgemini SE, Cognizant Technology Solutions Corporation, Endava UK Ltd., EPAM Systems, Inc., ExlService Holdings, Inc., Foundever Group, Genpact Limited, Globant S.A., HCL Te…" |

Other companies that name CNXC in their own reports (relationship from CNXC's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| supplier | Matinas BioPharma Holdings, Inc. (MTNB) | 10-K 2026-03-31 | "International, Inc., a publicly-traded customer journey experience company (NASDAQ: SREV) that was acquired in 2022 by Concentrix Corporation," |
| supplier | TD SYNNEX CORP (SNX) | 10-K 2026-01-27 | "On December 1, 2020, the Company completed the previously announced separation of its customer experience services business (the "Separation"), in a tax-free transaction for federal income tax purpose…" |

## Revenue by region (fiscal year ended 2025-11-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| OTHERS | $5.06B | 51.5% | +6.2% |
| United States | $1.59B | 16.2% | -0.1% |
| Philippines | $1.13B | 11.5% | +6.8% |
| France | $1.05B | 10.7% | -5.3% |
| United Kingdom | $356.5M | 3.6% | -9.7% |
| Germany | $334.3M | 3.4% | -13.8% |
| Canada | $302.1M | 3.1% | -1.8% |
| Total revenue | $9.83B | 100% | — |

## Company outlook (8-K filed 2026-09-29)

- "Business Outlook: The following statements are based on the Company's current expectations for the fourth quarter and the full year fiscal 2026."
- "The non-GAAP EPS guidance assumes no impact from changes in acquisition contingent consideration and foreign currency losses (gains), net included in other expense (income), net."
- "Fourth Quarter Fiscal 2026 Expectations: • Fourth quarter reported revenue of $2.410 billion to $2.460 billion."
- "Based on current exchange rates, these expectations assume an approximate 65-basis point negative impact of foreign exchange rates compared with the prior year period."

Analysts expect $2.44B for the current quarter, +0.2% vs the guidance midpoint $2.44B. Source: https://www.sec.gov/Archives/edgar/data/1803599/000180359926000147/exhibit991q32026.htm

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-11-30) | $2.92 | $3.17 | -8.0% | $2.44B | 4 |
| Next quarter (ends 2027-02-28) | $2.81 | $2.85 | -1.3% | $2.43B | 3 |
| Current fiscal year (ends 2026-11-30) | $11.05 | $11.20 | -1.3% | $9.94B | 5 |
| Next fiscal year (ends 2027-11-30) | $11.52 | $11.89 | -3.1% | $9.82B | 5 |