Is Conduent Inc (NASDAQ: CNDT) Stock An Instant Disaster Or An Incredible Opportunity?

In the last trading session, 1.18 million Conduent Inc (NASDAQ:CNDT) shares changed hands as the company’s beta touched 1.63. With the company’s per share price at $2.92 changed hands at $0.12 or 4.29% during last session, the market valuation stood at $634.49M. CNDT’s last price was a discount, traded about -69.52% off its 52-week high of $4.95. The share price had its 52-week low at $2.40, which suggests the last value was 17.81% up since then. When we look at Conduent Inc’s average trading volume, we note the 10-day average is 1.41 million shares, with the 3-month average coming to 951.24K.

Analysts gave the Conduent Inc (CNDT) stock a consensus recommendation rating of a Buy, calculated at a mean rating of 1.00. If we narrow down to specifics, the data shows that 0 out of 2 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 0 recommended CNDT as a Hold, 2 felt it is a Buy and 0 rated the stock as Underweight. Conduent Inc’s EPS for the current quarter is expected to be $0.04.

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Conduent Inc (NASDAQ:CNDT) trade information

Instantly CNDT was in green as seen at the end of in last trading. With action 18.22%, the performance over the past five days has been green. The jump to weekly highs of 3.01 on Monday, 11/20/23 added 4.29% to the stock’s daily price. The company’s shares are showing year-to-date downside of -27.90%, with the 5-day performance at 18.22% in the green. However, in the 30-day time frame, Conduent Inc (NASDAQ:CNDT) is -6.41% down. Looking at the short shares, we see there were 3.37 million shares sold at short interest cover period of 5.04 days.

The consensus price target for the stock as assigned by Wall Street analysts is $5.48, meaning bulls need an upside of 46.72% from its current market value. According to analyst projections, CNDT’s forecast low is $5.48 with $5.48 as the target high. To hit the forecast high, the stock’s price needs a -87.67% plunge from its current level, while the stock would need to soar -87.67% for it to hit the projected low.

Conduent Inc (CNDT) estimates and forecasts

Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Conduent Inc will rise 300.00%. Year-over-year growth is forecast to reach -3.70% down from the last financial year.

Consensus estimates given by 1 financial analysts project the company’s revenue in the current quarter to hit an average of $930 million. 1 analysts are of the opinion that Conduent Inc’s revenue for the quarter ending Mar 2024 will be $930 million. The company’s revenue for the corresponding quarters a year ago was $986 million and $920 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -5.70%. The estimates for the next quarter sales put growth at 1.10%.

The 2023 estimates are for Conduent Inc earnings to decrease by -117.39%.

CNDT Dividends

Conduent Inc is expected to release its next quarterly earnings report on November 01.

Conduent Inc (NASDAQ:CNDT)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 5.64% of Conduent Inc shares while 77.95% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.62%. There are 77.95% institutions holding the Conduent Inc stock share, with Icahn Carl C the top institutional holder. As of Jun 29, 2023, the company held 18.05% of the shares, roughly 38.15 million CNDT shares worth $129.71 million.

Vanguard Group Inc holds the second largest percentage of outstanding shares, with 8.22% or 17.37 million shares worth $59.07 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Price (T.Rowe) Small-Cap Value Fund and Vanguard Total Stock Market Index Fund. With 6.85 million shares estimated at $23.27 million under it, the former controlled 3.24% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.63% of the shares, roughly 5.55 million shares worth around $18.88 million.

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