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 equities analysts recently weighed in on CNDT shares. Zacks Investment Research raised shares of Conduent from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. JPMorgan Chase & Co. downgraded shares of Conduent from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $17.00 to $12.00 in a report on Thursday, May 9th. Cross Research downgraded shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th. BMO Capital Markets reissued a “hold” rating and issued a $17.00 price target on shares of Conduent in a report on Wednesday, February 20th. Finally, Needham & Company LLC cut their price target on shares of Conduent from $25.00 to $14.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $15.50.

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.

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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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