Northern Trust Corp lessened its stake in shares of Conduent Inc (NASDAQ:CNDT) by 1.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 991,535 shares of the company’s stock after selling 15,961 shares during the quarter. Northern Trust Corp owned approximately 0.47% of Conduent worth $15,805,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in CNDT. Cohen Capital Management Inc. purchased a new stake in shares of Conduent during the second quarter valued at approximately $1,881,000. Nisa Investment Advisors LLC boosted its stake in shares of Conduent by 7.1% during the second quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock valued at $483,000 after purchasing an additional 2,000 shares during the period. Alpha Windward LLC boosted its stake in shares of Conduent by 1.5% during the second quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock valued at $557,000 after purchasing an additional 524 shares during the period. Kirr Marbach & Co. LLC IN purchased a new stake in shares of Conduent during the second quarter valued at approximately $8,922,000. Finally, First Quadrant L P CA boosted its stake in shares of Conduent by 79.3% during the second quarter. First Quadrant L P CA now owns 133,907 shares of the company’s stock valued at $2,134,000 after purchasing an additional 59,210 shares during the period.
Shares of Conduent Inc (CNDT) opened at 15.53 on Tuesday. Conduent Inc has a 52 week low of $13.10 and a 52 week high of $18.15. The stock’s market cap is $3.26 billion. The company has a 50-day moving average price of $15.78 and a 200-day moving average price of $16.28.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.50 billion. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. Conduent’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.30 EPS. Equities analysts anticipate that Conduent Inc will post $0.76 EPS for the current year.
In other Conduent news, EVP David Amoriell sold 106,500 shares of the company’s stock in a transaction on Wednesday, August 16th. The stock was 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 of the company’s stock, valued at approximately $2,051,916.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of analysts have recently weighed in on CNDT shares. BMO Capital Markets reissued a “hold” rating and set a $18.00 price objective on shares of Conduent in a research note on Thursday, September 28th. BidaskClub lowered Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Needham & Company LLC started coverage on Conduent in a research note on Wednesday, September 13th. They set a “hold” rating for the company. Zacks Investment Research lowered Conduent from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Cowen and Company reaffirmed a “hold” rating on shares of Conduent in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Conduent currently has an average rating of “Hold” and an average target price of $18.14.
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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