Saturday, June 25, 2022

Conduent Incorporated [CNDT] stock for 69,750 USD was bought by Keyes Louis Edward

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Conduent Incorporated shares valued at $69,750 were purchased by Keyes Louis Edward on May 09. At $4.65 per share, Keyes Louis Edward acquired 15,000 shares. The insider’s holdings grew to 434,182 shares worth approximately $1.91 million following the completion of this transaction.

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Also, KRAWITZ MICHAEL E purchased 20,000 shares, netting a total of over 89,200 in proceeds. Following the buying of shares at $4.46 each, the insider now holds 755,698 shares.

Before that, Skelton Clifford had added 21,763 shares to its account. In a trade valued at $99,892, the President and CEO bought Conduent Incorporated shares for $4.59 each. Upon closing the transaction, the insider’s holdings increased to 21,763 shares, worth approximately $12.67 million.

As published in a research note from Needham on November 09, 2021, Conduent Incorporated [CNDT] has been rated down from a Buy to a Hold. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid April. As of February 21, 2020, Needham has reiterated its “Buy” rating for CNDT. Earlier on August 09, 2019, JP Morgan upgraded its rating. Their new recommendation was “an Overweight” for CNDT stock which previously was a “a Neutral”.

Analyzing CNDT’s Price Performance

On Thursday, Conduent Incorporated [NASDAQ: CNDT] plunged -1.12% to $4.41. The stock’s lowest price that day was $4.38, but it reached a high of $4.55 in the same session. During the last five days, there has been a drop of approximately -1.56%. Over the course of the year, Conduent Incorporated shares have dropped approximately -17.42%. Shares of the company reached a 52-week high of $6.32 on 01/06/22 and a 52-week low of $4.12 on 02/17/22. A 50-day SMA is recorded $5.05, while a 200-day SMA reached $5.45. Nevertheless, trading volume fell to 1.46 million shares from 1.1 million shares the previous day.

Support And Resistance Levels for Conduent Incorporated (CNDT)

According to the 24-hour chart, there is a support level at 4.34, which, if violated, would cause prices to drop to 4.28. In the upper region, resistance lies at 4.51. The next price resistance is at 4.62. RSI (Relative Strength Index) is 38.42 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.36, which suggests the price will decrease in the coming days. Percent R is at 83.75%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Conduent Incorporated subject to short interest?

Stocks of Conduent Incorporated saw a sharp steep in short interest on May 30, 2022 dropping by -1.4 million shares to 3.48 million. Data from Yahoo Finance shows that the short interest on Apr 28, 2022 was 4.88 million shares. A decline of -40.23% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.14 of the overall float, the days-to-cover ratio (short ratio) decline to 2.14.

Which companies own the most shares of Conduent Incorporated (CNDT)?

According to Icahn Associates Holding LLC filings, the company currently owns 38,149,336 shares, which is about 17.69% of the total CNDT shares outstanding. The investor’s shares have plunged by 0 from its previous 13-F filing of 38149336.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $79,769,638. Neuberger Berman Investment Advis reduced a -0.46% interest valued at $70.49 million while BlackRock Fund Advisors sold a -118,558 stake. A total of 404,768 shares of Conduent Incorporated were sold by Dimensional Fund Advisors LP during the quarter, and -87,683 were sold by William Blair Investment Manageme. In its current portfolio, SSgA Funds Management, Inc. holds 4,323,678 shares valued at $22.92 million.

In terms of Conduent Incorporated share price expectations, FactSet research, analysts set an average price target of $5.75 in the next 12 months, up nearly 28.92% from the previous closing price of $4.46. Analysts anticipate Conduent Incorporated stock to reach $6.00 by 2022, with the lowest price target being $5.50. In spite of this, 5 analysts ranked Conduent Incorporated stock as a Hold at the end of 2022. On May 09, 2019, Needham assigned a price target of “a Buy” to the stock and reiterated coverage with a $14.

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