Conduent Inc. (CNDT) Stake Increased by Trexquant Investment LP

Trexquant Investment LP lifted its stake in shares of Conduent Inc. (NYSE:CNDT) by 141.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,944 shares of the company’s stock after acquiring an additional 18,125 shares during the quarter. Trexquant Investment LP’s holdings in Conduent were worth $485,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CNDT. The Manufacturers Life Insurance Company boosted its stake in Conduent by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after purchasing an additional 527 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in Conduent by 213.2% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after purchasing an additional 6,046 shares during the period. Pacad Investment Ltd. bought a new stake in Conduent during the 2nd quarter valued at approximately $161,000. Stevens Capital Management LP bought a new stake in Conduent during the 2nd quarter valued at approximately $161,000. Finally, Advisory Services Network LLC boosted its stake in Conduent by 173.9% during the 2nd quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock valued at $174,000 after purchasing an additional 6,929 shares during the period. Institutional investors own 88.69% of the company’s stock.

Conduent Inc. (NYSE:CNDT) opened at $15.17 on Friday. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $3,191.42 and a P/E ratio of 18.28. Conduent Inc. has a twelve month low of $13.10 and a twelve month high of $18.15.

Conduent (NYSE:CNDT) last posted its quarterly earnings results on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.21 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. equities research analysts expect that Conduent Inc. will post 0.81 earnings per share for the current year.

Several analysts recently weighed in on CNDT shares. Cross Research upgraded Conduent from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. Needham & Company LLC started coverage on Conduent in a research note on Wednesday, September 13th. They set a “hold” rating for the company. BidaskClub downgraded Conduent from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Cowen restated a “hold” rating on shares of Conduent in a research note on Friday, October 6th. Finally, BMO Capital Markets decreased their target price on Conduent from $18.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. Conduent presently has a consensus rating of “Hold” and an average target price of $18.43.

WARNING: “Conduent Inc. (CNDT) Stake Increased by Trexquant Investment LP” was posted by Community Financial News and is the property of of Community Financial News. If you are accessing this article on another site, it was stolen and republished in violation of US & international copyright legislation. The correct version of this article can be viewed at https://www.com-unik.info/2017/12/03/conduent-inc-cndt-stake-increased-by-trexquant-investment-lp.html.

About Conduent

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).

Want to see what other hedge funds are holding CNDT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Conduent Inc. (NYSE:CNDT).

Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

What are top analysts saying about Conduent Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Conduent Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit