Charles Schwab Investment Management Inc. Has $5.94 Million Position in Conduent Inc. $CNDT

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Conduent Inc. by 12%, holding approximately 2.2 million shares valued at nearly $5.9 million as of the latest quarter.
• Conduent has received several upgrades from research analysts, including a "strong-buy" rating from Singular Research, indicating a growing confidence in the company's performance.
• The company's recent quarterly earnings report showed a loss of ($0.13) EPS, surpassing expectations but reflecting a year-over-year revenue decline of 7%.

Charles Schwab Investment Management Inc. raised its holdings in Conduent Inc. (NASDAQ:CNDT - Free Report) by 12.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,199,536 shares of the company's stock after acquiring an additional 235,179 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.36% of Conduent worth $5,939,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CNDT. Millennium Management LLC boosted its stake in Conduent by 59.5% in the fourth quarter. Millennium Management LLC now owns 912,465 shares of the company's stock valued at $3,686,000 after acquiring an additional 340,283 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Conduent during the fourth quarter worth $797,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Conduent during the fourth quarter worth $628,000. Balyasny Asset Management L.P. bought a new position in shares of Conduent during the fourth quarter worth $449,000. Finally, Bank of America Corp DE boosted its position in shares of Conduent by 21.1% during the fourth quarter. Bank of America Corp DE now owns 599,398 shares of the company's stock worth $2,422,000 after purchasing an additional 104,617 shares in the last quarter. 77.28% of the stock is owned by institutional investors.

Conduent Stock Down 1.1%

Shares of NASDAQ:CNDT traded down $0.03 during midday trading on Tuesday, reaching $2.75. 686,368 shares of the company were exchanged, compared to its average volume of 1,033,114. Conduent Inc. has a fifty-two week low of $1.90 and a fifty-two week high of $4.90. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 0.81. The stock has a fifty day simple moving average of $2.66 and a two-hundred day simple moving average of $2.65. The firm has a market cap of $434.42 million, a PE ratio of 68.77 and a beta of 1.35.

Conduent (NASDAQ:CNDT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.19) by $0.06. Conduent had a net margin of 0.64% and a negative return on equity of 9.88%. The business had revenue of $754.00 million for the quarter, compared to analyst estimates of $777.00 million. During the same period last year, the business posted ($0.14) earnings per share. The firm's quarterly revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts forecast that Conduent Inc. will post -0.34 earnings per share for the current year.

Insider Transactions at Conduent

In other Conduent news, Director Harshavardhan V. Agadi purchased 100,000 shares of the stock in a transaction on Wednesday, June 18th. The shares were purchased at an average cost of $2.81 per share, for a total transaction of $281,000.00. Following the purchase, the director owned 100,000 shares of the company's stock, valued at approximately $281,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.98% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CNDT. Singular Research raised shares of Conduent to a "strong-buy" rating in a research report on Tuesday, August 19th. Wall Street Zen raised shares of Conduent from a "sell" rating to a "hold" rating in a research report on Saturday, August 23rd. One investment analyst has rated the stock with a Strong Buy rating, According to MarketBeat, the stock has a consensus rating of "Strong Buy".

About Conduent

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.