BlackRock Inc. purchased a new position in Conduent Inc. (NASDAQ:CNDT - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 13,831,442 shares of the company's stock, valued at approximately $20,194,000. BlackRock Inc. owned approximately 8.92% of Conduent as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Conduent by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,635,381 shares of the company's stock worth $24,179,000 after purchasing an additional 93,759 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Conduent by 35.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,116,277 shares of the company's stock worth $13,663,000 after buying an additional 1,854,266 shares in the last quarter. Miller Value Partners LLC increased its stake in shares of Conduent by 38.5% in the fourth 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 last quarter. Blue Owl Capital Holdings LP raised its holdings in Conduent by 8.2% in the fourth quarter. Blue Owl Capital Holdings LP now owns 4,822,422 shares of the company's stock valued at $9,259,000 after acquiring an additional 365,574 shares in the last quarter. Finally, Renaissance Technologies LLC raised its holdings in Conduent by 13.6% in the first quarter. Renaissance Technologies LLC now owns 2,608,400 shares of the company's stock valued at $3,339,000 after acquiring an additional 311,300 shares in the last quarter. Hedge funds and other institutional investors own 77.28% of the company's stock.
Conduent Stock Performance
Shares of CNDT stock opened at $1.89 on Thursday. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 1.33. The business has a 50 day moving average of $1.57 and a two-hundred day moving average of $1.52. Conduent Inc. has a 52 week low of $1.15 and a 52 week high of $2.98. The company has a market cap of $293.93 million, a P/E ratio of -1.24 and a beta of 1.44.
Conduent (NASDAQ:CNDT - Get Free Report) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.01). The company had revenue of $531.00 million for the quarter, compared to analyst estimates of $702.00 million. Conduent had a negative return on equity of 9.02% and a negative net margin of 8.17%. As a group, analysts anticipate that Conduent Inc. will post -0.37 EPS for the current year.
Analysts Set New Price Targets
Several brokerages have weighed in on CNDT. Weiss Ratings reissued a "sell (d)" rating on shares of Conduent in a report on Friday, July 17th. Noble Financial raised shares of Conduent to a "strong-buy" rating in a research report on Tuesday, May 12th. Wall Street Zen downgraded Conduent from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Finally, Zacks Research lowered Conduent from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Conduent currently has a consensus rating of "Hold".
Check Out Our Latest Research Report on Conduent
Conduent Profile
(
Free Report)
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.
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