Ballentine Partners LLC Invests $88,000 in Conduent Inc. $CNDT

Ballentine Partners LLC bought a new position in Conduent Inc. (NASDAQ:CNDT) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 33,354 shares of the company’s stock, valued at approximately $88,000.

Several other large investors have also made changes to their positions in CNDT. Principal Financial Group Inc. bought a new stake in Conduent during the 1st quarter worth about $28,000. Truvestments Capital LLC acquired a new position in Conduent during the 1st quarter valued at about $28,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Conduent during the 1st quarter valued at about $32,000. Pallas Capital Advisors LLC acquired a new stake in shares of Conduent in the 2nd quarter valued at approximately $43,000. Finally, Vestmark Advisory Solutions Inc. raised its position in shares of Conduent by 114.5% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 28,014 shares of the company’s stock valued at $76,000 after acquiring an additional 14,955 shares during the period. Institutional investors own 77.28% of the company’s stock.

Conduent Price Performance

NASDAQ CNDT opened at $2.80 on Wednesday. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.81. Conduent Inc. has a 12-month low of $1.90 and a 12-month high of $4.90. The company has a market capitalization of $442.32 million, a PE ratio of 70.02 and a beta of 1.35. The firm’s 50 day moving average is $2.71 and its 200-day moving average is $2.56.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) earnings per share (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 for the quarter, compared to the consensus estimate of $777.00 million. During the same period last year, the company earned ($0.14) earnings per share. The firm’s revenue 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 fiscal year.

Analyst Upgrades and Downgrades

CNDT has been the topic of a number of analyst reports. Singular Research upgraded shares of Conduent to a “strong-buy” rating in a research report on Tuesday, August 19th. Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a research report on Saturday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, Conduent presently has an average rating of “Strong Buy”.

About Conduent

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.