Insider Buying: Conduent (NASDAQ:CNDT) Director Acquires $72,500.00 in Stock

Conduent Inc. (NASDAQ:CNDT) Director Hernandez Margarita Palau acquired 50,000 shares of the business’s stock in a transaction on Wednesday, February 18th. The shares were purchased at an average price of $1.45 per share, with a total value of $72,500.00. Following the transaction, the director owned 50,000 shares in the company, valued at $72,500. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Conduent Stock Up 11.2%

Conduent stock opened at $1.59 on Monday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.57 and a quick ratio of 1.57. Conduent Inc. has a 1-year low of $1.18 and a 1-year high of $3.94. The company has a market cap of $245.99 million, a PE ratio of -1.42 and a beta of 1.32. The stock’s 50 day moving average price is $1.76 and its 200 day moving average price is $2.20.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CNDT shares. Wall Street Zen raised shares of Conduent from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reiterated 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 given a Sell rating to the company. According to MarketBeat, Conduent currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On Conduent

Several institutional investors have recently bought and sold shares of CNDT. FNY Investment Advisers LLC lifted its holdings in shares of Conduent by 89.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after acquiring an additional 5,165 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Conduent during the second quarter worth about $29,000. Modern Wealth Management LLC acquired a new stake in shares of Conduent in the third quarter valued at about $34,000. IHT Wealth Management LLC purchased a new stake in shares of Conduent during the 2nd quarter valued at about $34,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in Conduent during the 3rd quarter worth approximately $39,000. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

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.