Public Employees Retirement System of Ohio Buys 16,003 Shares of Conduent Inc. $CNDT

Public Employees Retirement System of Ohio increased its stake in Conduent Inc. (NASDAQ:CNDT) by 11.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 156,059 shares of the company’s stock after purchasing an additional 16,003 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.10% of Conduent worth $412,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CNDT. Principal Financial Group Inc. bought a new position in shares of Conduent in the first quarter worth approximately $28,000. Truvestments Capital LLC bought a new position in shares of Conduent in the first quarter worth approximately $28,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Conduent in the first quarter worth approximately $32,000. Pallas Capital Advisors LLC bought a new position in shares of Conduent in the second quarter worth approximately $43,000. Finally, Vestmark Advisory Solutions Inc. grew its position in Conduent by 114.5% during the first 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 last quarter. 77.28% of the stock is currently owned by institutional investors.

Conduent Stock Down 0.7%

Shares of Conduent stock opened at $2.73 on Tuesday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.65 and a current ratio of 1.65. Conduent Inc. has a 52-week low of $1.90 and a 52-week high of $4.90. The stock has a market capitalization of $431.26 million, a price-to-earnings ratio of 68.27 and a beta of 1.35. The company’s 50 day moving average price is $2.71 and its 200-day moving average price is $2.55.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $777.00 million. During the same quarter last year, the firm posted ($0.14) earnings per share. The firm’s revenue was down 7.0% on a year-over-year basis. Equities research analysts forecast that Conduent Inc. will post -0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have commented on CNDT shares. Wall Street Zen upgraded 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 report on Tuesday, August 19th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate 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.