Conduent Incorporated (NASDAQ: CNDT) stock jumped 3.06% on Wednesday to $4.04 against a previous-day closing price of $3.92. With 0.56 million shares changed hands, the volume of the stock remained lighter than its average volume of 0.81 million shares. During the session, the Information Technology Services company that operates in wider Technology sector, reached to the highest price of $4.0600 whereas the lowest price it dropped to was $3.9000. The 52-week range on CNDT shows that it touched its highest point at $6.32 and its lowest point at $3.29 during that stretch. It currently has a 1-year price target of $3.75. Beta for the stock currently stands at 1.73.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CNDT was up-trending over the past week, with a rise of 4.94%, but this was up by 6.60% over a month. Three-month performance dropped to -7.34% while six-month performance fell -16.01%. The stock lost -26.81% in the past year, while it has lost -24.34% so far this year. A look at the trailing 12-month EPS for CNDT yields 0.44 with Next year EPS estimates of 0.28. For the next quarter, that number is 0.06. This implies an EPS growth rate of 70.70% for this year and -0.36% for next year.
Float and Shares Shorts:
At present, 215.78 million CNDT shares are outstanding with a float of 204.75 million shares on hand for trading. On Oct 13, 2022, short shares totaled 4.6 million, which was 2.13% higher than short shares on Sep 14, 2022. In addition to Mr. Clifford A. Skelton as the firm’s Pres, CEO & Director, Mr. Stephen Henry Wood serves as its Exec. VP, CFO & Principal Accounting Officer.
Through their ownership of 82.50% of CNDT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 44.59% of CNDT, in contrast to 34.98% held by mutual funds. Shares owned by individuals account for 115.59%. As the largest shareholder in CNDT with 17.68% of the stake, Icahn Associates Holding LLC holds 38,149,336 shares worth 38,149,336. A second-largest stockholder of CNDT, The Vanguard Group, Inc., holds 16,758,581 shares, controlling over 7.77% of the firm’s shares. Neuberger Berman Investment Advis is the third largest shareholder in CNDT, holding 14,288,278 shares or 6.62% stake. With a 2.22% stake in CNDT, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 4,782,855 shares are owned by the mutual fund manager. The Neuberger Berman Intrinsic Value, which owns about 2.09% of CNDT stock, is the second-largest Mutual Fund holder. It holds 4,505,003 shares valued at 18.56 million. Vanguard Small Cap Index Fund holds 1.93% of the stake in CNDT, owning 4,168,798 shares worth 17.18 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CNDT since 3 analysts follow the stock currently. There are 0 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 3 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With CNDT analysts setting a high price target of $3.75 and a low target of $3.75, the average target price over the next 12 months is $3.75. Based on these targets, CNDT could drop -7.18% to reach the target high and fall by -7.18% to reach the target low. Reaching the average price target will result in a decline of -7.18% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. CNDT will report FY 2022 earnings on 02/22/2023. Analysts have provided yearly estimates in a range of $0.28 being high and $0.27 being low. For CNDT, this leads to a yearly average estimate of $0.28. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Conduent Incorporated surprised analysts by $0.01 when it reported $0.09 EPS against a consensus estimate of $0.08. The surprise factor in the prior quarter was -$0.02. Based on analyst estimates, the high estimate for the next quarter is $0.06 and the low estimate is $0.05. The average estimate for the next quarter is thus $0.06.
Summary of Insider Activity:
Insiders traded CNDT stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 21,051 shares were sold. The number of buy transactions has increased to 37 while that of sell transactions has risen to 23 over the past year. The total number of shares bought during that period was 2,209,280 while 650,163 shares were sold.