CerenceCRNC
Market Cap: 137M
About: Cerence Inc is a United States-based software company. It is involved in developing mobility-based solutions for drivers and their cars. The customers include all automobile original equipment manufacturers, or OEMs, or their tier 1 suppliers. The company's revenue is generated by selling software licenses and cloud-connected services. Geographically, it derives a majority of its revenue from the United States and also has a presence in Other Americas; Germany; Other Europe, the Middle East, Africa; Japan, and Other Asia-Pacific.
Employees: 1,700
Fund manager confidence
Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)
15% more repeat investments, than reductions
Existing positions increased: 62 | Existing positions reduced: 54
5.63% more ownership
Funds ownership: 92.55% [Q4 2023] → 98.18% (+5.63%) [Q1 2024]
0% more funds holding in top 10
Funds holding in top 10: 1 [Q4 2023] → 1 (+0) [Q1 2024]
13% less capital invested
Capital invested by funds: $749M [Q4 2023] → $648M (-$101M) [Q1 2024]
14% less funds holding
Funds holding: 213 [Q4 2023] → 183 (-30) [Q1 2024]
48% less call options, than puts
Call options by funds: $1.92M | Put options by funds: $3.71M
59% less first-time investments, than exits
New positions opened: 21 | Existing positions closed: 51
Research analyst outlook
12 Wall Street Analysts provided 1 year price forecasts over the past 6 months
12 analyst ratings
Evercore ISI Group Chris McNally | 53%upside $5 | In-Line Maintained | 15 Jul 2024 |
Baird Luke Junk | 83%upside $6 | Neutral Maintained | 12 Jul 2024 |
Goldman Sachs Mark Delaney | 8%downside $3 | Neutral Maintained | 10 Jul 2024 |
Goldman Sachs Mark Delaney | 83%upside $6 | Neutral Maintained | 13 May 2024 |
Craig-Hallum Jeff Van Rhee | 145%upside $8 | Hold Maintained | 10 May 2024 |