353 institutions hold shares in Cerence Inc. (CRNC), with 249.28k shares held by insiders accounting for 0.66% while institutional investors hold 102.21% of the company’s shares. The shares outstanding are 37.18M, and float is at 37.01M with Short Float at 12.21%. Institutions hold 101.53% of the Float.
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The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 3.41 million shares valued at $342.81 million. The investor’s holdings represent 9.05% of the CRNC Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 3.09 million shares valued at $310.0 million to account for 8.18% of the shares outstanding. The other top investors are Ameriprise Financial, Inc. which holds 2.77 million shares representing 7.34% and valued at over $278.19 million, while ClearBridge Investments, LLC holds 5.81% of the shares totaling 2.19 million with a market value of $220.19 million.
Cerence Inc. (NASDAQ: CRNC) is 13.80% higher on its value in year-to-date trading and has touched a low of $11.39 and a high of $139.00 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The CRNC stock was last observed hovering at around $117.86 in the last trading session, with the day’s loss setting it -3.51% off its average median price target of $129.50 for the next 12 months. It is also 26.23% off the consensus price target high of $155.00 offered by 10 analysts, but current levels are -8.9% lower than the price target low of $105.00 for the same period.
Currently trading at $114.35, the stock is -5.72% and 3.00% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.13 million and changing -2.98% at the moment leaves the stock 74.04% off its SMA200. CRNC registered 329.08% gain for a year compared to 6-month gain of 106.45%. The firm has a 50-day simple moving average (SMA 50) of $117.37 and a 200-day simple moving average (SMA200) of $79.29.
The stock witnessed a -8.31% loss in the last 1 month and extending the period to 3 months gives it a 47.51%, and is -8.48% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 8.01% over the week and 7.52% over the month.
Cerence Inc. (CRNC) has around 1500 employees, a market worth around $4.15B and $347.20M in sales. Current P/E ratio is 462.96 and Fwd P/E is 46.18. Profit margin for the company is 3.70%. Distance from 52-week low is 903.95% and -17.73% from its 52-week high. The company has generated returns on investments over the last 12 months (2.00%).
Cerence Inc. (CRNC) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Cerence Inc. (CRNC) is a “Overweight”. 10 analysts offering their recommendations for the stock have an average rating of 2.10, where 3 rate it as a Hold and 1 think it is a “Overweight”. 6 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Cerence Inc. is expected to release its quarterly report on 05/13/2021 and quarterly earnings per share for the current quarter are estimated at $0.53 with sales reaching $95.42M over the same period.The EPS is expected to shrink by -120.60% this year, but quarterly earnings will post 17.20% year-over-year.
Cerence Inc. (CRNC) Insider Activity
A total of 233 insider transactions have happened at Cerence Inc. (CRNC) in the last six months, with sales accounting for 213 and purchases happening 20 times. The most recent transaction is an insider sale by Nietzel Alfred A, the company’s Director. SEC filings show that Nietzel Alfred A sold 5,000 shares of the company’s common stock on Feb 16 at a price of $121.86 per share for a total of $0.61 million. Following the sale, the insider now owns 17806.0 shares.
Cerence Inc. disclosed in a document filed with the SEC on Feb 10 that Dhawan Sanjay (Chief Executive Officer) sold a total of 25,613 shares of the company’s common stock. The trade occurred on Feb 10 and was made at $126.63 per share for $3.24 million. Following the transaction, the insider now directly holds 0.38 million shares of the CRNC stock.
Still, SEC filings show that on Jan 22, Dhawan Sanjay (Chief Executive Officer) disposed off 8,581 shares at an average price of $119.60 for $1.03 million. The insider now directly holds 406,090 shares of Cerence Inc. (CRNC).