Pallas Capital Advisors LLC Invests $43,000 in Conduent Inc. $CNDT

Pallas Capital Advisors LLC purchased a new position in Conduent Inc. (NASDAQ:CNDT) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 16,432 shares of the company’s stock, valued at approximately $43,000.

Other large investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of Conduent in the 1st quarter worth about $28,000. Principal Financial Group Inc. purchased a new position in Conduent in the 1st quarter worth about $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Conduent in the 1st quarter worth about $32,000. Vestmark Advisory Solutions Inc. raised its position in Conduent by 114.5% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 28,014 shares of the company’s stock worth $76,000 after buying an additional 14,955 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Conduent by 63.7% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,251 shares of the company’s stock worth $106,000 after buying an additional 15,270 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Wall Street Analyst Weigh In

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

Conduent Price Performance

NASDAQ CNDT opened at $2.78 on Wednesday. Conduent Inc. has a 52 week low of $1.90 and a 52 week high of $4.90. The firm has a market capitalization of $439.16 million, a P/E ratio of 69.52 and a beta of 1.35. 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 company has a 50-day moving average price of $2.70 and a 200-day moving average price of $2.57.

Conduent (NASDAQ:CNDT) last released 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 net margin of 0.64% and a negative return on equity of 9.88%. The firm had revenue of $754.00 million during the quarter, compared to analyst estimates of $777.00 million. During the same quarter in the prior year, the firm earned ($0.14) EPS. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. Equities research analysts anticipate that Conduent Inc. will post -0.34 earnings per share for the current 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.