Insider Buying: Conduent Inc (CNDT) Director Acquires 2,500 Shares of Stock
Conduent Inc (NYSE:CNDT) Director A. Scott Letier purchased 2,500 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average cost of $8.20 per share, for a total transaction of $20,500.00. Following the completion of the acquisition, the director now directly owns 4,500 shares in the company, valued at approximately $36,900. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
NYSE CNDT traded up $0.02 during trading on Thursday, hitting $8.93. 53,530 shares of the company’s stock traded hands, compared to its average volume of 2,590,916. The company has a market cap of $1.79 billion, a PE ratio of 8.39 and a beta of 1.32. Conduent Inc has a 12-month low of $7.14 and a 12-month high of $23.39. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 0.61.
Conduent (NYSE:CNDT) last released its quarterly earnings data on Wednesday, May 8th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.03). The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.17 billion. Conduent had a negative net margin of 13.14% and a positive return on equity of 6.61%. Conduent’s revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the company earned $0.22 earnings per share. As a group, equities research analysts anticipate that Conduent Inc will post 0.8 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CNDT. Whittier Trust Co. increased its position in shares of Conduent by 47.3% in the fourth quarter. Whittier Trust Co. now owns 2,708 shares of the company’s stock worth $29,000 after purchasing an additional 870 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Conduent by 0.4% in the fourth quarter. California State Teachers Retirement System now owns 316,271 shares of the company’s stock worth $3,362,000 after purchasing an additional 1,157 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Conduent by 11.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 11,490 shares of the company’s stock worth $159,000 after purchasing an additional 1,163 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Conduent by 25.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,985 shares of the company’s stock worth $84,000 after purchasing an additional 1,207 shares during the last quarter. Finally, Cohen Capital Management Inc. increased its position in shares of Conduent by 1.0% in the fourth quarter. Cohen Capital Management Inc. now owns 118,785 shares of the company’s stock worth $1,263,000 after purchasing an additional 1,220 shares during the last quarter. 87.94% of the stock is currently owned by institutional investors and hedge funds.
Conduent Company Profile
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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