Conduent Incorporated (NASDAQ: CNDT) Is Getting Increasingly Hard To Ignore


    Neuberger Berman Investment Advis.. recently announced the acquisition of new stake in Conduent Incorporated (NASDAQ:CNDT). The institutional investor has increased its shareholding in the Technology company by 64.07% to 6.66 million shares with purchase of 2.6 million shares. This fresh investment now brings its stake to 3.19% valued currently at $12.73 million. In addition, D. E. Shaw & Co. LP raised its holdings by 1.7 million to 6.05 million shares. And Victory Capital Management, Inc.. has lifted its position by 29.55% or 1.01 million shares – to 4.41 million shares.

    With over 2.58 million Conduent Incorporated (CNDT) shares trading Friday and a closing price of $3.50 on the day, the dollar volume was approximately $9.05 million. The shares have shown a negative weekly performance of -10.49% and its price on 08/21/20 lost nearly 0.00%. Currently, there are 209.13M common shares owned by the public and among those 196.98M shares have been available to trade.

    An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for CNDT have a consensus price objective of $5.25. The analysts have set the share’s price value over the next 12 months at a high of $6.00 and a low of $4.50 should the stock experience a downside. Incidentally, analysts’ outlook for the Conduent Incorporated stock is 2.80 for the next 12 months. The average price target is 33.33% above its last price level and an upside to the estimated low will see the stock gain 22.22% over that period. But an upside of 41.67% will see the stock hit the forecast high price target while mean target price for the stock is $5.25.

    Insiders at the company have transacted a total of 50 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 38 of these insider trades were purchases, accounting for 4,171,662 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 195,073 shares.

    The top 3 mutual fund holders in Conduent Incorporated are Vanguard Total Stock Market Index, Fidelity Small Cap Value Fund, and Vanguard Small Cap Index Fund. Vanguard Total Stock Market Index owns 4.61 million shares of the company’s stock, all valued at over $8.8 million. Fidelity Small Cap Value Fund bought 1.92 million shares to see its total holdings expand to 3.91 million shares valued at over $7.47 million and representing 1.87% of the shares outstanding. Vanguard Small Cap Index Fund sold 23100.0 shares to bring its total holdings to over 3.91 million shares at a value of $7.46 million. Vanguard Small Cap Index Fund now owns shares totaling to 1.87% of the shares outstanding.

    Shares of Conduent Incorporated (NASDAQ: CNDT) opened at $3.52, up $0.02 from a prior closing price of $3.50. However, the script later closed the day at $3.50, down 0.00%. The company’s stock has a 5-day price change of -10.49% and 56.60% over the past three months. CNDT shares are trading -43.55% year to date (YTD), with the 12-month market performance down to -49.86% lower. It has a 12-month low price of $1.54 and touched a high of $7.97 over the same period. Currently, 2.58 million shares have been traded, compared to an average intraday trading volume of 4.28 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 17.22%, 36.73%, and -5.25% respectively.

    Institutional ownership of Conduent Incorporated (NASDAQ: CNDT) shares accounts for 81.10% of the company’s 209.13M shares outstanding. Mutual fund holders own 31.94%, while other institutional holders and individual stakeholders account for 49.17% and 117.63% respectively.

    It has a market capitalization of $732.31M and a beta (3y monthly) value of 1.72. The earnings-per-share (ttm) stands at -$3.33. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.31% over the week and 8.86% over the month.

    Analysts forecast that Conduent Incorporated (CNDT) will achieve an EPS of $0.12 for the current quarter, $0.13 for the next quarter and $0.49 for 2021. The lowest estimate earnings-per-share for the quarter is $0.11 while analysts give the company a high EPS estimate of $0.14. Comparatively, EPS for the current quarter was $0.16 a year ago. Earnings per share for the fiscal year are expected to decrease by -353.30%, and 21.67% over the next financial year.

    If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Conduent Incorporated (CNDT) as a “Moderate Buy” at a consensus score of 2.80. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 4 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”

    Looking at the support for the CNDT, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on April 14, 2020, with the firm’s price target at. Needham coverage for the Conduent Incorporated (CNDT) stock in a research note released on February 21, 2020 offered a Buy rating with a price target of $5.50. JP Morgan was of a view on August 09, 2019 that the stock is Overweight, while Needham gave the stock Buy rating on May 09, 2019, issuing a price target of $25- $14. JP Morgan on their part issued Neutral rating on May 09, 2019.


    Please enter your comment!
    Please enter your name here