Harshavardhan Agadi Buys 117,099 Shares of Conduent (NASDAQ:CNDT) Stock

Conduent Inc. (NASDAQ:CNDT) CEO Harshavardhan Agadi purchased 117,099 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was acquired at an average price of $1.56 per share, for a total transaction of $182,674.44. Following the acquisition, the chief executive officer owned 337,099 shares in the company, valued at $525,874.44. This trade represents a 53.23% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Conduent Stock Performance

Shares of NASDAQ CNDT opened at $1.51 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.97. Conduent Inc. has a 12 month low of $1.18 and a 12 month high of $3.75. The company has a 50 day simple moving average of $1.74 and a two-hundred day simple moving average of $2.19. The stock has a market cap of $233.61 million, a price-to-earnings ratio of -1.35 and a beta of 1.31.

Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $770.00 million during the quarter, compared to analyst estimates of $790.50 million. During the same quarter in the previous year, the company earned ($0.15) EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. As a group, analysts predict that Conduent Inc. will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Conduent

Several institutional investors and hedge funds have recently modified their holdings of the business. Susquehanna Fundamental Investments LLC acquired a new position in Conduent in the 4th quarter worth about $460,000. Occudo Quantitative Strategies LP increased its position in shares of Conduent by 32.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 131,160 shares of the company’s stock valued at $252,000 after buying an additional 31,851 shares in the last quarter. Millennium Management LLC raised its stake in shares of Conduent by 52.3% during the 4th quarter. Millennium Management LLC now owns 617,135 shares of the company’s stock worth $1,185,000 after buying an additional 211,970 shares during the period. Miller Value Partners LLC raised its stake in shares of Conduent by 38.5% during the 4th quarter. Miller Value Partners LLC now owns 5,583,385 shares of the company’s stock worth $10,720,000 after buying an additional 1,552,560 shares during the period. Finally, Moore Capital Management LP lifted its position in shares of Conduent by 308.0% during the 4th quarter. Moore Capital Management LP now owns 502,627 shares of the company’s stock valued at $965,000 after buying an additional 379,438 shares in the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Wall Street Analysts Forecast Growth

CNDT has been the topic of a number of recent research reports. Wall Street Zen upgraded Conduent from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Conduent Company Profile

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.