Conduent Incorporated (NASDAQ: CNDT), at -18.22% from peak, ready for a comeback? – Marketing Sentinel
In the last trading session, Conduent Incorporated (NASDAQ: CNDT) saw 713,932 shares change hands with its beta currently measuring 1.94. The company’s recent level of price per share of $ 7.19, trading at $ 0.17 or 2.42% as of the day’s bell, puts it at a market valuation of $ 1.53 billion. This CNDT share closing price has a discount of -18.22% from its highest price over 52 weeks of $ 8.5 and indicates a premium of 73.85% over its highest price. 52-week low of $ 1.88. Looking at the average trading volume of the company over the past 10 days shows a volume of 1.3 million shares, which gives us an average trading volume of 1.29 million if we extend this period to 3 months.
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For Conduent Incorporated (CNDT), the analyst consensus is at an average recommendation of Hold while giving it an average rating of 2.8. The data split highlights that out of 6 analysts covering the stock, none rated the stock as a sell while none recommended an overweight rating for the stock. 5 suggested the stock as an expectation while 1 viewed the stock as a buy. No analyst has advised it as underweight. The company is expected to achieve EPS of $ 0.14 in the current quarter.
Standing in the green in the last session for gaining 2.42%, over the past five days CNDT has remained in the green while hitting its highest of the week on Friday July 02 when the stock hit the price level of $ 7.38-2, adding 2.57% to its overnight value. Conduent Incorporated shares have seen a 49.79% change in performance since the start of the year and have moved -2.57% over the past 5 days. Conduent Incorporated (NASDAQ: CNDT) has posted a performance of -10.35% over the past 30 days. The number of shares sold short was 5.22 million shares, which calculates 4.05 days to cover short interest.
Wall Street analysts have set a consensus target price of $ 8.17 for the share, which implies a 13.63% rise from its current value. Analysts projected $ 7.5 as a low price target for the stock while placing it at a high target of $ 9. It follows that the current share price would jump + 25.17% to reach the projected high, while falling to the targeted low would mean a loss of 4.31% to the current value of the stock.
Conduent Incorporated (CNDT) Estimates and Forecasts
Statistics show that Conduent Incorporated scores comparatively lower than the scores of other industry players. The company has added + 42.94% in value to its shares over the past 6 months, posting an annual growth rate of 3.23% compared to the industry’s 8.8. Apart from that, the company raised its revenue forecast for fiscal year 2021. The company estimates that its revenue growth will increase by 16.7% in the current quarter and calculates a decrease of -42.3% in the next quarter. This year, revenue growth is expected to fall by -1.6% compared to the previous year.
4 industry analysts gave their estimates on the company’s current quarter revenue setting an average figure of $ 1.02 billion for the same. And 4 analysts estimate the company will achieve $ 1.02 billion in revenue in the next quarter ending September 1, 2021.
By weighting the company’s profits over the past 5 years and over the next 5 years, we find that the company has an annual profit growth rate of 18.1% over the past 5 years. In 2021, the company’s profit growth rate is expected to be around 93.4%, while its estimated profit growth over the next 5 years is 0%.
Principal holders of Conduent Incorporated (NASDAQ: CNDT)
Insiders hold 4.59% of the company’s total shares while the institution owns 79.63%, with the shares having a free float percentage of 83.46%. Investors are also watching very closely the number of corporate investors in a company, namely 310 institutions for Conduent Incorporated that currently own shares of the company. Icahn, Carl, C. is the first institutional holder of CNDT to have held 38.15 million shares valued at $ 254.07 million. And as of March 30, 2021, he owned 18.05% of the outstanding shares of the company.
The second largest institutional holder is Blackrock Inc., which held approximately 15.55 million shares on March 30, 2021. The number of shares represents the company’s holding of more than 7.36% of the outstanding shares, for a total value of $ 103.56 million.
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On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the two main mutual funds that hold shares of the company. As of March 30, 2021, the former fund manager held 4,551,318 shares valued at $ 30.31 million, or 2.15% of total shares outstanding. The last fund manager was in possession of 3.89 million shares on April 29, 2021, which represents a stake of approximately $ 26.42 million in the company or a holder of 1.84% of the shares of the company. society.