Bank of America Corp DE Buys 104,617 Shares of Conduent Incorporated (NASDAQ:CNDT)

Bank of America Corp DE grew its stake in shares of Conduent Incorporated (NASDAQ:CNDT) by 21.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 599,398 shares of the company’s stock after purchasing an additional 104,617 shares during the period. Bank of America Corp DE owned approximately 0.37% of Conduent worth $2,422,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Picton Mahoney Asset Management boosted its stake in shares of Conduent by 288.7% during the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock valued at $35,000 after purchasing an additional 6,524 shares in the last quarter. SilverOak Wealth Management LLC bought a new stake in shares of Conduent during the 4th quarter valued at about $53,000. Bailard Inc. bought a new stake in Conduent during the fourth quarter worth about $58,000. Cibc World Markets Corp bought a new stake in Conduent during the fourth quarter worth about $60,000. Finally, Zacks Investment Management bought a new stake in Conduent during the fourth quarter worth about $82,000. Institutional investors own 77.28% of the company’s stock.

Insider Transactions at Conduent

In other news, EVP Giles Andrew Goodburn bought 13,798 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $2.32 per share, for a total transaction of $32,011.36. Following the completion of the purchase, the executive vice president now owns 331,168 shares in the company, valued at approximately $768,309.76. This represents a 4.35% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.98% of the company’s stock.

Conduent Stock Performance

NASDAQ:CNDT opened at $2.23 on Monday. Conduent Incorporated has a one year low of $1.90 and a one year high of $4.90. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.68 and a quick ratio of 1.75. The company’s 50-day simple moving average is $2.25 and its 200 day simple moving average is $3.29. The firm has a market capitalization of $360.88 million, a P/E ratio of 1.03 and a beta of 1.52.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Wednesday, May 7th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.19) by $0.06. Conduent had a net margin of 12.69% and a negative return on equity of 11.39%. The business had revenue of $751.00 million for the quarter, compared to analyst estimates of $776.00 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. Conduent’s quarterly revenue was down 18.5% on a year-over-year basis. As a group, analysts forecast that Conduent Incorporated will post -0.34 EPS 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.