Conduent Inc. $CNDT Position Reduced by Swiss National Bank

Swiss National Bank cut its position in shares of Conduent Inc. (NASDAQ:CNDT) by 3.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 278,754 shares of the company’s stock after selling 8,700 shares during the quarter. Swiss National Bank owned 0.17% of Conduent worth $753,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CNDT. Wells Fargo & Company MN increased its holdings in shares of Conduent by 27.2% in the 4th quarter. Wells Fargo & Company MN now owns 94,545 shares of the company’s stock valued at $382,000 after purchasing an additional 20,217 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Conduent by 14.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company’s stock valued at $180,000 after purchasing an additional 5,494 shares during the period. Invesco Ltd. increased its holdings in shares of Conduent by 2.0% in the 4th quarter. Invesco Ltd. now owns 618,024 shares of the company’s stock valued at $2,497,000 after purchasing an additional 12,396 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Conduent in the 4th quarter valued at about $797,000. Finally, Barclays PLC increased its holdings in shares of Conduent by 9.9% in the 4th quarter. Barclays PLC now owns 298,713 shares of the company’s stock valued at $1,207,000 after purchasing an additional 26,790 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Harshavardhan V. Agadi purchased 100,000 shares of the stock in a transaction on Wednesday, June 18th. The shares were bought at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the completion of the acquisition, the director directly owned 100,000 shares in the company, valued at approximately $281,000. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.98% of the stock is currently owned by company insiders.

Conduent Trading Up 2.9%

Shares of CNDT stock opened at $2.83 on Wednesday. Conduent Inc. has a 12 month low of $1.90 and a 12 month high of $4.90. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $2.65 and its two-hundred day moving average is $2.70. The company has a market cap of $447.06 million, a PE ratio of 70.77 and a beta of 1.66.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.06. Conduent had a negative return on equity of 9.88% and a net margin of 0.64%.The company had revenue of $754.00 million for the quarter, compared to the consensus estimate of $777.00 million. During the same quarter last year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities analysts predict that Conduent Inc. will post -0.34 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNDT. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a report on Saturday. Singular Research upgraded Conduent to a “strong-buy” rating in a report on Tuesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Conduent has an average rating of “Strong Buy”.

Conduent 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.