During the last session, Conduent Incorporated (NASDAQ:CNDT)’s traded shares were 1.53 million, with the beta value of the company hitting 1.77. At the end of the trading day, the stock’s price was $3.24, reflecting an intraday loss of -2.11% or -$0.07. The 52-week high for the CNDT share is $5.57, that puts it down -71.91 from that peak though still a striking 16.98% gain since the share price plummeted to a 52-week low of $2.69. The company’s market capitalization is $713.71M, and the average intraday trading volume over the past 10 days was 1.15 million shares, and the average trade volume was 1.09 million shares over the past three months.
Conduent Incorporated (NASDAQ:CNDT) trade information
Conduent Incorporated (CNDT) registered a -2.11% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.11% in intraday trading to $3.24 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -9.24%, and it has moved by -3.86% in 30 days. Based on these gigs, the overall price performance for the year is -30.47%. The short interest in Conduent Incorporated (NASDAQ:CNDT) is 3.34 million shares and it means that shorts have 3.45 day(s) to cover.
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Conduent Incorporated (CNDT) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -133.30% this quarter and then drop -33.30% in the quarter after that. In the rating firms’ projections, revenue will decrease -2.70% compared to the previous financial year.
Revenue for the current quarter is expected to be $900 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $960 million by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $928 million and $978 million respectively. In this case, analysts expect current quarter sales to shrink by -3.00% and then drop by -1.80% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -54.30%. While earnings are projected to return -397.90% in 2023.
Conduent Incorporated is due to release its next quarterly earnings between July 31 and August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Conduent Incorporated (NASDAQ:CNDT)’s Major holders
Conduent Incorporated insiders own 5.58% of total outstanding shares while institutional holders control 79.38%, with the float percentage being 84.07%. Icahn Carl C is the largest shareholder of the company, while 307 institutions own stock in it. As of Mar 30, 2023, the company held over 38.15 million shares (or 18.05% of all shares), a total value of $130.85 million in shares.
The next largest institutional holding, with 18.49 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 8.75% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $63.43 million.
Also, the Mutual Funds coming in first place with the largest holdings of Conduent Incorporated (CNDT) shares are Vanguard Total Stock Market Index Fund and Price (T.Rowe) Small-Cap Value Fund. Data provided on Dec 30, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 5.55 million shares. This amounts to just over 2.63 percent of the company’s overall shares, with a $22.49 million market value. The same data shows that the other fund manager holds slightly less at 4.99 million, or about 2.36% of the stock, which is worth about $20.23 million.