Conduent (NASDAQ:CNDT) Sets New 52-Week Low at $3.71

Conduent Incorporated (NASDAQ:CNDTGet Rating)’s stock price reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $3.71 and last traded at $3.74, with a volume of 43361 shares trading hands. The stock had previously closed at $3.86.

Wall Street Analyst Weigh In

CNDT has been the topic of several research analyst reports. Cowen dropped their price objective on Conduent to $4.50 in a research note on Friday, July 22nd. TheStreet upgraded Conduent from a “d+” rating to a “c” rating in a research note on Tuesday, May 24th. Finally, StockNews.com lowered Conduent from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Four equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Conduent has an average rating of “Hold” and an average target price of $4.75.

Conduent Stock Down 3.4 %

The firm has a 50-day moving average price of $4.34 and a 200 day moving average price of $4.50. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market cap of $804.90 million, a price-to-earnings ratio of 8.48 and a beta of 1.66.

Conduent (NASDAQ:CNDTGet Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $928.00 million for the quarter, compared to analyst estimates of $929.68 million. Conduent had a return on equity of 9.08% and a net margin of 2.69%. Sell-side analysts predict that Conduent Incorporated will post 0.36 EPS for the current year.

Insider Buying and Selling

In other Conduent news, CEO Clifford Skelton bought 47,675 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was purchased at an average cost of $4.23 per share, for a total transaction of $201,665.25. Following the completion of the purchase, the chief executive officer now directly owns 2,862,831 shares of the company’s stock, valued at $12,109,775.13. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Stephen Henry Wood purchased 47,455 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was bought at an average cost of $4.21 per share, for a total transaction of $199,785.55. Following the purchase, the chief financial officer now owns 478,379 shares of the company’s stock, valued at $2,013,975.59. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Clifford Skelton purchased 47,675 shares of the company’s stock in a transaction dated Thursday, August 4th. The stock was purchased at an average price of $4.23 per share, with a total value of $201,665.25. Following the completion of the purchase, the chief executive officer now directly owns 2,862,831 shares in the company, valued at approximately $12,109,775.13. The disclosure for this purchase can be found here. 0.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in shares of Conduent in the 1st quarter valued at $88,000. Gotham Asset Management LLC lifted its stake in shares of Conduent by 60.9% in the 4th quarter. Gotham Asset Management LLC now owns 29,778 shares of the company’s stock valued at $159,000 after acquiring an additional 11,267 shares during the last quarter. Intrepid Capital Management Inc. lifted its stake in shares of Conduent by 753.8% in the 1st quarter. Intrepid Capital Management Inc. now owns 731,712 shares of the company’s stock valued at $3,776,000 after acquiring an additional 646,015 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in Conduent during the 1st quarter worth $1,847,000. Finally, Corton Capital Inc. bought a new position in Conduent during the 4th quarter worth $295,000. 79.05% of the stock is currently owned by institutional investors.

About Conduent

(Get Rating)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.

Further Reading

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