Oppenheimer Asset Management Inc. Makes New $100,000 Investment in Conduent Inc. $CNDT

Oppenheimer Asset Management Inc. acquired a new position in shares of Conduent Inc. (NASDAQ:CNDT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 37,703 shares of the company’s stock, valued at approximately $100,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Conduent by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 8,627,507 shares of the company’s stock worth $23,294,000 after buying an additional 60,398 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Conduent by 32.1% in the 1st quarter. American Century Companies Inc. now owns 3,110,253 shares of the company’s stock valued at $8,398,000 after buying an additional 755,953 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Conduent by 12.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,199,536 shares of the company’s stock valued at $5,939,000 after buying an additional 235,179 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Conduent by 0.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock valued at $5,300,000 after acquiring an additional 11,428 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in Conduent by 3.0% in the first quarter. Empowered Funds LLC now owns 864,190 shares of the company’s stock valued at $2,333,000 after acquiring an additional 25,515 shares during the last quarter. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Trading Down 0.8%

Shares of CNDT stock opened at $2.36 on Tuesday. The firm has a 50 day moving average price of $2.69 and a two-hundred day moving average price of $2.55. 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 market capitalization of $372.81 million, a PE ratio of 59.01 and a beta of 1.39. Conduent Inc. has a 12-month low of $1.90 and a 12-month high of $4.90.

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

Analyst Ratings Changes

CNDT has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, August 23rd. Singular Research raised Conduent to a “strong-buy” rating in a research report on Tuesday, August 19th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently 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.