Conduent Incorporated (NASDAQ:CNDT) Stake Decreased by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC trimmed its holdings in Conduent Incorporated (NASDAQ:CNDTGet Rating) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,474,945 shares of the company’s stock after selling 19,374 shares during the quarter. Wedge Capital Management L L P NC owned about 0.68% of Conduent worth $6,372,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC bought a new stake in shares of Conduent during the 1st quarter worth about $88,000. Gotham Asset Management LLC raised its holdings in Conduent by 60.9% during the fourth quarter. Gotham Asset Management LLC now owns 29,778 shares of the company’s stock worth $159,000 after purchasing an additional 11,267 shares in the last quarter. Intrepid Capital Management Inc. raised its holdings in Conduent by 753.8% during the first quarter. Intrepid Capital Management Inc. now owns 731,712 shares of the company’s stock worth $3,776,000 after purchasing an additional 646,015 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Conduent in the first quarter worth approximately $1,847,000. Finally, Corton Capital Inc. bought a new position in Conduent during the 4th quarter valued at $295,000. 79.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CNDT shares. StockNews.com downgraded Conduent from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. TheStreet upgraded shares of Conduent from a “d+” rating to a “c” rating in a research report on Tuesday, May 24th. Finally, Cowen cut their price target on shares of Conduent to $4.50 in a report on Friday, July 22nd. Four investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $4.75.

Insiders Place Their Bets

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

Conduent Price Performance

Shares of NASDAQ:CNDT opened at $3.69 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.78 and a current ratio of 1.78. The company has a market capitalization of $796.28 million, a PE ratio of 8.39 and a beta of 1.66. The stock has a fifty day moving average of $4.30 and a 200-day moving average of $4.49. Conduent Incorporated has a one year low of $3.63 and a one year high of $7.21.

Conduent (NASDAQ:CNDTGet Rating) last announced its earnings results on Tuesday, August 2nd. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.03). The company had revenue of $928.00 million for the quarter, compared to analysts’ expectations of $929.68 million. Conduent had a net margin of 2.69% and a return on equity of 9.08%. As a group, equities analysts anticipate that Conduent Incorporated will post 0.36 EPS for the current fiscal year.

Conduent Profile

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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.

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Institutional Ownership by Quarter for Conduent (NASDAQ:CNDT)

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