CerenceCRNC
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: 1,400
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
5% more capital invested
Capital invested by funds: $108M [Q2] → $114M (+$5.43M) [Q3]
10.94% less ownership
Funds ownership: 91.59% [Q2] → 80.65% (-10.94%) [Q3]
16% less funds holding
Funds holding: 185 [Q2] → 156 (-29) [Q3]
28% less repeat investments, than reductions
Existing positions increased: 36 | Existing positions reduced: 50
50% less call options, than puts
Call options by funds: $1.28M | Put options by funds: $2.55M
50% less first-time investments, than exits
New positions opened: 25 | Existing positions closed: 50
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
Goldman Sachs Mark Delaney 60% 1-year accuracy 18 / 30 met price target | 11%upside $14 | Neutral Maintained | 16 Jan 2025 |
Craig-Hallum Jeff Van Rhee 69% 1-year accuracy 11 / 16 met price target | 52%downside $6 | Hold Maintained | 22 Nov 2024 |
Financial journalist opinion
Based on 12 articles about CRNC published over the past 30 days
