Russell Investments Group Ltd. Trims Stock Position in Conduent Inc. $CNDT

Russell Investments Group Ltd. cut its stake in shares of Conduent Inc. (NASDAQ:CNDT) by 55.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 172,614 shares of the company’s stock after selling 215,658 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.11% of Conduent worth $466,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Conduent by 4.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,491 shares of the company’s stock worth $366,000 after acquiring an additional 3,911 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Conduent by 14.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company’s stock worth $180,000 after acquiring an additional 5,494 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Conduent during the fourth quarter worth approximately $41,000. Price T Rowe Associates Inc. MD increased its position in shares of Conduent by 6.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 158,579 shares of the company’s stock worth $641,000 after acquiring an additional 10,199 shares during the period. Finally, Principal Financial Group Inc. purchased a new position in shares of Conduent during the first quarter worth approximately $28,000. 77.28% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Harshavardhan V. Agadi bought 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 18th. The stock was bought at an average price of $2.81 per share, with a total value of $281,000.00. Following the completion of the transaction, the director directly owned 100,000 shares of the company’s stock, valued at approximately $281,000. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.98% of the stock is owned by insiders.

Conduent Price Performance

NASDAQ CNDT opened at $2.78 on Monday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.65 and a current ratio of 1.65. The firm’s 50 day moving average price is $2.65 and its 200-day moving average price is $2.66. Conduent Inc. has a 52-week low of $1.90 and a 52-week high of $4.90. The company has a market cap of $439.17 million, a PE ratio of 69.52 and a beta of 1.35.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CNDT shares. Wall Street Zen raised shares of Conduent from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. Singular Research upgraded shares of Conduent to a “strong-buy” rating in a research note on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat, Conduent has a consensus 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.