13,059 Shares in Conduent Incorporated (NASDAQ:CNDT) Acquired by NewEdge Wealth LLC

NewEdge Wealth LLC purchased a new position in shares of Conduent Incorporated (NASDAQ:CNDT) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,059 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Conduent by 0.3% during the third quarter. Vanguard Group Inc. now owns 17,422,018 shares of the company’s stock worth $60,629,000 after purchasing an additional 48,742 shares during the period. BlackRock Inc. lifted its stake in Conduent by 6.9% in the first quarter. BlackRock Inc. now owns 16,966,185 shares of the company’s stock valued at $87,546,000 after acquiring an additional 1,099,590 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Conduent by 4.8% in the third quarter. Neuberger Berman Group LLC now owns 14,288,278 shares of the company’s stock valued at $47,747,000 after acquiring an additional 658,320 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Conduent by 11.0% in the first quarter. Dimensional Fund Advisors LP now owns 9,152,387 shares of the company’s stock valued at $31,392,000 after acquiring an additional 904,919 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in Conduent by 20.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,841,839 shares of the company’s stock valued at $31,760,000 after acquiring an additional 1,314,421 shares during the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on CNDT. Noble Financial began coverage on shares of Conduent in a research note on Thursday, March 14th. They issued an “outperform” rating and a $9.00 target price for the company. StockNews.com cut shares of Conduent from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th.

Conduent Price Performance

NASDAQ CNDT opened at $3.02 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $630.09 million, a PE ratio of -2.16 and a beta of 1.59. The company has a 50 day moving average price of $3.35 and a two-hundred day moving average price of $3.31. Conduent Incorporated has a 12-month low of $2.40 and a 12-month high of $3.81.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The firm had revenue of $953.00 million for the quarter, compared to the consensus estimate of $930.00 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities analysts predict that Conduent Incorporated will post 1.06 earnings per share for the current fiscal year.

Conduent Company Profile

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.