Conduent (NASDAQ:CNDT) CEO Buys $158,400.00 in Stock

Conduent Inc. (NASDAQ:CNDT) CEO Harshavardhan Agadi bought 110,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The stock was purchased at an average cost of $1.44 per share, with a total value of $158,400.00. Following the completion of the transaction, the chief executive officer owned 110,000 shares in the company, valued at approximately $158,400. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Conduent Price Performance

CNDT stock opened at $1.59 on Monday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $245.99 million, a P/E ratio of -1.42 and a beta of 1.32. The business has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $2.20. Conduent Inc. has a twelve month low of $1.18 and a twelve month high of $3.94.

Conduent (NASDAQ:CNDT) last announced its earnings results on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $770.00 million during the quarter, compared to analyst estimates of $790.50 million. Conduent had a negative net margin of 5.59% and a negative return on equity of 8.03%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.15) earnings per share. As a group, equities analysts anticipate that Conduent Inc. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Conduent

A number of large investors have recently bought and sold shares of CNDT. Global Retirement Partners LLC grew its holdings in shares of Conduent by 28,720.0% during the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after purchasing an additional 14,360 shares during the period. Boothbay Fund Management LLC acquired a new position in Conduent during the second quarter valued at approximately $29,000. FNY Investment Advisers LLC grew its stake in Conduent by 89.7% during the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after buying an additional 5,165 shares during the period. M&T Bank Corp acquired a new stake in shares of Conduent in the fourth quarter worth $33,000. Finally, Modern Wealth Management LLC acquired a new stake in shares of Conduent in the third quarter worth $34,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. Wall Street Zen raised Conduent from a “sell” rating to a “hold” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Conduent currently has an average rating of “Moderate Buy”.

About Conduent

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.