296 institutions hold shares in Conduent Incorporated (CNDT), with 12.79M shares held by insiders accounting for 6.03% while institutional investors hold 82.19% of the company’s shares. The shares outstanding are 210.20M, and float is at 196.51M with Short Float at 3.08%. Institutions hold 77.23% of the Float.
The top institutional shareholder in the company is Icahn, Carl, C. with over 38.15 million shares valued at $183.12 million. The investor’s holdings represent 18.05% of the CNDT Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 15.19 million shares valued at $72.94 million to account for 7.19% of the shares outstanding. The other top investors are Blackrock Inc. which holds 12.27 million shares representing 5.81% and valued at over $58.91 million, while Neuberger Berman Group, LLC holds 3.90% of the shares totaling 8.24 million with a market value of $39.55 million.
Conduent Incorporated (NASDAQ: CNDT) is 42.50% higher on its value in year-to-date trading and has touched a low of $1.71 and a high of $7.22 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 CNDT stock was last observed hovering at around $6.73 in the last trading session, with the day’s gains setting it 0.11% off its average median price target of $6.50 for the next 12 months. It is also 2.29% off the consensus price target high of $7.00 offered by 5 analysts, but current levels are -14.0% lower than the price target low of $6.00 for the same period.
Currently trading at $6.84, the stock is 0.45% and 5.31% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.8 million and changing 1.63% at the moment leaves the stock 49.22% off its SMA200. CNDT registered 196.10% gain for a year compared to 6-month gain of 99.42%. The firm has a 50-day simple moving average (SMA 50) of $6.78 and a 200-day simple moving average (SMA200) of $5.26.
The stock witnessed a 0.15% loss in the last 1 month and extending the period to 3 months gives it a 42.80%, and is 1.94% up 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 2.55% over the week and 3.35% over the month.
Conduent Incorporated (CNDT) has around 63000 employees, a market worth around $1.43B and $4.16B in sales. Fwd P/E is 11.34. Profit margin for the company is -3.10%. Distance from 52-week low is 300.00% and -5.26% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.10%).
Conduent Incorporated (CNDT) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for Conduent Incorporated (CNDT) is a “Hold”. 5 analysts offering their recommendations for the stock have an average rating of 2.80, where 4 rate it as a Hold and 0 think it is a “Overweight”. 1 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
Conduent Incorporated is expected to release its quarterly report on 08/11/2021 and quarterly earnings per share for the current quarter are estimated at $0.11 with sales reaching $1.02B over the same period.The EPS is expected to grow by 93.40% this year, but quarterly earnings will post -2.20% year-over-year. Quarterly sales are estimated to shrink -3.40% in year-over-year returns.
Conduent Incorporated (CNDT) Insider Activity
A total of 40 insider transactions have happened at Conduent Incorporated (CNDT) in the last six months, with sales accounting for 14 and purchases happening 26 times. The most recent transaction is an insider purchase by Skelton Clifford, the company’s Chief Executive Officer. SEC filings show that Skelton Clifford bought 20,661 shares of the company’s common stock on Feb 22 at a price of $4.85 per share for a total of $0.1 million. Following the purchase, the insider now owns 1.92 million shares.
Conduent Incorporated disclosed in a document filed with the SEC on Feb 22 that Letier A. Scott (Director) bought a total of 10,000 shares of the company’s common stock. The trade occurred on Feb 22 and was made at $4.95 per share for $49500.0. Following the transaction, the insider now directly holds 0.25 million shares of the CNDT stock.
Still, SEC filings show that on Feb 22, Prout Mark (EVP, Chief Information Officer) acquired 3,000 shares at an average price of $4.88 for $14640.0. The insider now directly holds 302,164 shares of Conduent Incorporated (CNDT).
Conduent Incorporated (CNDT): Who are the competitors?
The company’s main competitors (and peers) include Park City Group Inc. (PCYG) that is trading 7.80% up over the past 12 months. Proofpoint Inc. (PFPT) is 39.94% up on the 1-year trading charts. Short interest in the company’s stock has risen 9.15% from the last report on Apr 14, 2021 to stand at a total of 6.06 million short shares sold with a short interest ratio of 3.53.