Greenleaf Trust reduced its position in shares of Conduent Incorporated (NASDAQ:CNDT – Free Report) by 36.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,655 shares of the company’s stock after selling 6,738 shares during the quarter. Greenleaf Trust’s holdings in Conduent were worth $40,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CNDT. Price T Rowe Associates Inc. MD increased its position in Conduent by 4,848.7% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,003,267 shares of the company’s stock valued at $25,934,000 after purchasing an additional 5,881,958 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Conduent by 20.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 7,841,839 shares of the company’s stock valued at $31,760,000 after purchasing an additional 1,314,421 shares during the period. BlackRock Inc. increased its position in Conduent by 6.9% during the 1st quarter. BlackRock Inc. now owns 16,966,185 shares of the company’s stock valued at $87,546,000 after purchasing an additional 1,099,590 shares during the period. Vanguard Group Inc. increased its position in Conduent by 5.4% during the 3rd quarter. Vanguard Group Inc. now owns 17,192,316 shares of the company’s stock valued at $57,423,000 after purchasing an additional 885,324 shares during the period. Finally, Neuberger Berman Group LLC increased its position in Conduent by 4.8% during the 3rd quarter. Neuberger Berman Group LLC now owns 14,288,278 shares of the company’s stock valued at $47,747,000 after purchasing an additional 658,320 shares during the period. 75.81% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. StockNews.com assumed coverage on shares of Conduent in a research report on Wednesday, August 23rd. They set a “hold” rating on the stock. TheStreet downgraded shares of Conduent from a “c-” rating to a “d+” rating in a research report on Wednesday, May 3rd.
Conduent Stock Up 2.5 %
NASDAQ:CNDT opened at $3.24 on Tuesday. The firm’s 50-day moving average price is $3.39 and its 200-day moving average price is $3.33. The company has a market capitalization of $705.48 million, a PE ratio of -2.06 and a beta of 1.80. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.91 and a quick ratio of 1.91. Conduent Incorporated has a 1-year low of $2.69 and a 1-year high of $4.95.
Conduent (NASDAQ:CNDT – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.07. The firm had revenue of $915.00 million for the quarter, compared to the consensus estimate of $900.00 million. Conduent had a negative net margin of 8.71% and a positive return on equity of 3.52%. The company’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS.
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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