Voya Investment Management LLC lessened its holdings in Conduent Inc (NASDAQ:CNDT) by 43.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 53,111 shares of the company’s stock after selling 40,469 shares during the quarter. Voya Investment Management LLC’s holdings in Conduent were worth $847,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Conduent by 3.4% in the second quarter. Vanguard Group Inc. now owns 15,756,920 shares of the company’s stock worth $251,165,000 after purchasing an additional 520,764 shares during the period. Frontier Capital Management Co. LLC boosted its holdings in Conduent by 33.9% in the second quarter. Frontier Capital Management Co. LLC now owns 8,926,287 shares of the company’s stock worth $142,285,000 after purchasing an additional 2,261,783 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Conduent by 24.6% in the second quarter. Dimensional Fund Advisors LP now owns 3,258,812 shares of the company’s stock worth $51,945,000 after purchasing an additional 642,917 shares during the period. Marshall Wace North America L.P. boosted its holdings in Conduent by 2.7% in the second quarter. Marshall Wace North America L.P. now owns 2,869,258 shares of the company’s stock worth $45,909,000 after purchasing an additional 76,757 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Conduent by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 2,303,920 shares of the company’s stock worth $36,724,000 after purchasing an additional 14,095 shares during the period.
In other Conduent news, EVP David Amoriell sold 106,500 shares of the stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the completion of the transaction, the executive vice president now directly owns 120,630 shares in the company, valued at $2,051,916.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Conduent Inc (NASDAQ:CNDT) opened at 15.41 on Monday. The stock’s 50 day moving average is $15.79 and its 200 day moving average is $16.28. Conduent Inc has a one year low of $13.10 and a one year high of $18.15. The firm’s market cap is $3.24 billion.
Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.16. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the company posted $0.30 earnings per share. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts expect that Conduent Inc will post $0.76 earnings per share for the current year.
A number of research firms have commented on CNDT. BidaskClub downgraded shares of Conduent from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Cowen and Company reaffirmed a “hold” rating on shares of Conduent in a report on Friday, October 6th. BMO Capital Markets reaffirmed a “hold” rating and issued a $18.00 price objective on shares of Conduent in a report on Thursday, September 28th. Needham & Company LLC began coverage on shares of Conduent in a report on Wednesday, September 13th. They issued a “hold” rating for the company. Finally, Zacks Investment Research downgraded shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $18.14.
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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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