Noble Capital Markets has recently initiated Conduent Inc (CNDT) stock to Outperform rating, as announced on March 14, 2024, according to Finviz. Earlier, on November 9, 2021, Needham had reduced the stock from a Buy to Hold. JP Morgan also reduced Neutral rating. Additionally, Needham reiterated Buy rating on February 21, 2020, with a target price of $5.50. JP Morgan analysts, in their report published on August 9, 2019, also raised Overweight rating for Conduent Inc’s stock. Analyst ratings are significant because they provide insights into stock performance expectations, influencing investor decisions and market sentiment.
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Conduent Inc (CNDT) Stock Trading Recap
On Friday, Conduent Inc (CNDT) stock saw a modest uptick, ending the day at $3.92 which represents a slight increase of $0.10 or 2.62% from the prior close of $3.82. The stock opened at $3.89 and touched a low of $3.85 during the day, reaching a high of $3.96. The volume of shares traded was 1.28 million exceeding the average volume of 1.15 million.
CNDT Stock Performance and Moving Averages
In recent trading, Conduent Inc (CNDT) stock price has shown some volatility, fluctuating 8.59% over the last five trades and 22.12% over the past 30 trades. This represents a notable shift from earlier in the year. Over the last six months, the stock has risen by 22.50%, and it has gained 24.44% in the previous three months. Currently, CNDT is trading at 7.87%, 7.72%, and 12.84% relative to its 20-Day, 50-Day, and 200-Day Simple Moving Averages, respectively.
As of the latest trading close, CNDT, a Technology sector stock, is trading -6.67% below its 52-week high but remains 63.33% above its 52-week low. The Average True Range (ATR) (14 days) of 0.17 highlights the stock’s average volatility, providing insight into how much the price typically fluctuates. This measure is crucial for understanding potential price swings and assessing overall market risk.
Conduent Inc’s Profitability and Valuation Ratios
Conduent Inc’s profitability metrics reveal strong financial health. The company currently boasts an operating margin of 0.88% and a profit margin of 0.61%, with a gross margin of 22.50%. The profit margin, also known as the revenue ratio or gross profit ratio, measures how efficiently a company converts sales into net income; higher margins indicate greater profitability.
In terms of valuation, Conduent Inc’s market capitalization stands at $636.61 million. Market cap represents the total value of all outstanding shares and is a key indicator of a company’s market value. The stock’s price-to-earnings (P/E) ratio is 19.32, assessing the company’s valuation relative to its earnings. Additionally, the Price-to-Sales Ratio is 0.18, reflecting the market’s valuation of the company’s sales, while the Price-to-Book Ratio is 0.85, comparing the market value to the company’s book value.
Understanding Insider Trading
Investors often prefer to invest in shares held by company insiders, as management is typically more aligned with the company’s success and shareholder interests. Currently, insiders own just 10.48% of Conduent Inc (CNDT)’s shares, while financial institutions hold 69.71%.
Notable insider trades include ICAHN CARL C, 10% Owner at Conduent Inc (CNDT), who sold 38149336 shares on Jun 08 ’24, at $3.47 each, totaling $132.38 million.
