The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Conduent Incorporated shares valued at $201,617 were purchased by Skelton Clifford on Aug 04. At $4.23 per share, Skelton Clifford acquired 47,675 shares. The insider’s holdings grew to 2,862,831 shares worth approximately $10.36 million following the completion of this transaction.
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Also, Wood Stephen Henry purchased 47,455 shares, netting a total of over 199,786 in proceeds. Following the buying of shares at $4.21 each, the insider now holds 478,379 shares.
Before that, Keyes Louis Edward had added 15,000 shares to its account. In a trade valued at $69,750, the EVP, Chief Revenue Officer bought Conduent Incorporated shares for $4.65 each. Upon closing the transaction, the insider’s holdings increased to 15,000 shares, worth approximately $1.57 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 -0.28% to $3.62. The stock’s lowest price that day was $3.51, but it reached a high of $3.66 in the same session. During the last five days, there has been a drop of approximately -6.22%. Over the course of the year, Conduent Incorporated shares have dropped approximately -32.21%. Shares of the company reached a 52-week high of $6.32 on 01/06/22 and a 52-week low of $3.51 on 09/22/22. A 50-day SMA is recorded $4.26, while a 200-day SMA reached $4.79. Nevertheless, trading volume fell to 1.08 million shares from 0.8 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 3.53, which, if violated, would cause prices to drop to 3.45. In the upper region, resistance lies at 3.68. The next price resistance is at 3.75. RSI (Relative Strength Index) is 28.64 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.25, which suggests the price will decrease in the coming days. Percent R is at 83.82%, 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 rise in short interest on Jul 14, 2022 jumping by 0.2 million shares to 3.78 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.58 million shares. A jump of 5.29% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.18 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.18.
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 17.68% of the total CNDT shares outstanding. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $65,022,485. Neuberger Berman Investment Advis acquire a 2.48% interest valued at $55.75 million while BlackRock Fund Advisors purchased a 151,652 stake. A total of 304,109 shares of Conduent Incorporated were bought by Dimensional Fund Advisors LP during the quarter, and -176,373 were sold by William Blair Investment Manageme. In its current portfolio, T. Rowe Price Associates, Inc. holds 6,003,267 shares valued at $24.55 million.
In terms of Conduent Incorporated share price expectations, FactSet research, analysts set an average price target of $4.50 in the next 12 months, up nearly 23.97% from the previous closing price of $3.63. Analysts anticipate Conduent Incorporated stock to reach $4.50 by 2022, with the lowest price target being $4.50. In spite of this, 4 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.