10 Cheap IT Stocks Hedge Funds Are Buying

6. Concentrix Corporation (NASDAQ:CNXC)

Forward P/E Ratio as of July 9: 5.25

Number of Hedge Fund Holders: 33

Concentrix Corporation (NASDAQ:CNXC) is one of the cheap IT stocks hedge funds are buying. On June 30, Concentrix released its 2025 Sustainability Report, titled “The Power of One.” The report highlights the company’s progress towards its 2030 ESG (Environmental, Social, and Governance) goals across 5 strategic priorities: climate action, culture, innovation, community impact, and ethical business.

Concentrix views sustainability as a roadmap for creating tangible business value. In particular, Concentrix cut carbon emissions by 27% compared to its 2019 baseline, showing progress towards its 2030 goal of a 50% reduction.

Energy efficiency measures have reduced global energy consumption from 421 million kWh in 2019 to 379 million kWh in 2024, contributing to lower operating expenses and a more cost-efficient footprint. Concentrix also scaled its internal Carbon Challenge platform and engaged 12,000+ employees in reducing their carbon footprint and promoting personal and collective accountability in sustainability.

Concentrix Corporation (NASDAQ:CNXC) designs, builds, and runs integrated customer experience/CX solutions worldwide.