Nationwide Fund Advisors purchased a new stake in Conduent Inc (NASDAQ:CNDT) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 44,000 shares of the company’s stock, valued at approximately $701,000.
Several other hedge funds also recently bought and sold shares of the company. Ameriprise Financial Inc. lifted its stake in shares of Conduent by 170.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 173,931 shares of the company’s stock valued at $2,772,000 after purchasing an additional 109,555 shares during the period. Cowen Inc. lifted its stake in shares of Conduent by 22.7% in the 2nd quarter. Cowen Inc. now owns 101,600 shares of the company’s stock valued at $1,620,000 after purchasing an additional 18,800 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Conduent by 1.3% in the 2nd quarter. Wells Fargo & Company MN now owns 1,569,636 shares of the company’s stock valued at $25,019,000 after purchasing an additional 20,362 shares during the period. Engineers Gate Manager LP acquired a new position in shares of Conduent in the 2nd quarter valued at $1,220,000. Finally, P Schoenfeld Asset Management LP acquired a new position in shares of Conduent in the 2nd quarter valued at $10,607,000.
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In related news, EVP David Amoriell sold 106,500 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total value of $1,811,565.00. Following the transaction, the executive vice president now owns 120,630 shares in the company, valued at $2,051,916.30. The transaction was disclosed in a document filed with the SEC, which is available through this link.
CNDT has been the topic of a number of analyst reports. Cowen and Company reissued a “hold” rating and issued a $18.00 price target on shares of Conduent in a research note on Friday, July 28th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Wednesday, August 2nd. Needham & Company LLC initiated coverage on Conduent in a research note on Wednesday, September 13th. They issued a “hold” rating on the stock. BidaskClub downgraded Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Finally, BMO Capital Markets reissued a “hold” rating and issued a $18.00 price target on shares of Conduent in a research note on Thursday, September 28th. One analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $18.14.
Shares of Conduent Inc (CNDT) opened at 15.41 on Monday. Conduent Inc has a 52-week low of $13.10 and a 52-week high of $18.15. The company has a 50 day moving average of $15.79 and a 200-day moving average of $16.28. The company’s market cap is $3.24 billion.
Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, August 9th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. Conduent’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.30 earnings per share. Analysts forecast that Conduent Inc will post $0.76 EPS for the current fiscal year.
Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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