Conduent Inc. (NASDAQ:CNDT) Director Acquires $281,000.00 in Stock

Conduent Inc. (NASDAQ:CNDT - Get Free Report) Director Harshavardhan V. Agadi acquired 100,000 shares of the company's stock in a transaction dated Wednesday, June 18th. The shares were purchased at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the purchase, the director now directly owns 100,000 shares of the company's stock, valued at approximately $281,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Conduent Stock Down 3.7%

Shares of Conduent stock traded down $0.10 on Monday, hitting $2.58. 1,091,996 shares of the company's stock traded hands, compared to its average volume of 1,167,986. Conduent Inc. has a 52-week low of $1.90 and a 52-week high of $4.90. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.78. The stock has a market cap of $417.52 million, a P/E ratio of 1.88 and a beta of 1.54. The firm's 50-day moving average is $2.30 and its 200 day moving average is $3.17.

Conduent (NASDAQ:CNDT - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The company had revenue of $751.00 million during the quarter, compared to analyst estimates of $776.00 million. Conduent had a net margin of 8.66% and a negative return on equity of 11.28%. The firm's revenue for the quarter was down 18.5% compared to the same quarter last year. During the same period last year, the business earned $0.46 EPS. Equities analysts anticipate that Conduent Inc. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in Conduent by 1.5% in the fourth quarter. Rhumbline Advisers now owns 255,334 shares of the company's stock worth $1,032,000 after acquiring an additional 3,775 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Conduent by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 90,491 shares of the company's stock valued at $366,000 after purchasing an additional 3,911 shares during the period. Envestnet Asset Management Inc. grew its stake in Conduent by 14.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company's stock worth $180,000 after buying an additional 5,494 shares during the last quarter. Picton Mahoney Asset Management lifted its stake in Conduent by 288.7% in the fourth quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company's stock valued at $35,000 after buying an additional 6,524 shares during the last quarter. Finally, New York State Common Retirement Fund grew its position in shares of Conduent by 36.6% during the fourth quarter. New York State Common Retirement Fund now owns 35,187 shares of the company's stock worth $142,000 after acquiring an additional 9,436 shares during the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

Conduent Company Profile

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.