Conduent (NASDAQ:CNDT) Director Buys $86,400.00 in Stock

Conduent Inc. (NASDAQ:CNDT) Director Michael Fucci bought 60,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were purchased at an average price of $1.44 per share, for a total transaction of $86,400.00. Following the purchase, the director owned 166,102 shares of the company’s stock, valued at $239,186.88. This trade represents a 56.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Conduent Stock Performance

NASDAQ CNDT opened at $1.59 on Monday. The firm has a 50-day moving average price of $1.76 and a two-hundred day moving average price of $2.20. Conduent Inc. has a 12-month low of $1.18 and a 12-month high of $3.94. The company has a market capitalization of $245.99 million, a P/E ratio of -1.42 and a beta of 1.32. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.97.

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CNDT. AQR Capital Management LLC grew its position in shares of Conduent by 106.7% during the 1st quarter. AQR Capital Management LLC now owns 740,375 shares of the company’s stock worth $1,999,000 after buying an additional 382,191 shares during the period. Goldman Sachs Group Inc. boosted its stake in Conduent by 0.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock worth $5,300,000 after acquiring an additional 11,428 shares in the last quarter. Caxton Associates LLP acquired a new stake in Conduent in the first quarter worth $249,000. Empowered Funds LLC increased 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 purchasing an additional 25,515 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of Conduent by 20.9% during the first quarter. Jane Street Group LLC now owns 397,856 shares of the company’s stock valued at $1,074,000 after purchasing an additional 68,860 shares during the period. 77.28% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CNDT. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research note on Wednesday, January 21st. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a research report 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, the company currently has a consensus 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.