Invst LLC Buys New Position in Conduent Inc. $CNDT

Key Points

• Invst LLC acquired 1,075,625 Conduent shares during the second quarter, valued at approximately $1.57 million and representing about 0.69% of the company. Institutional investors collectively own 77.28% of CNDT.
• Conduent reported quarterly revenue of $531 million and an adjusted loss of $0.18 per share, missing analyst estimates of $702 million in revenue and a $0.17-per-share loss. Analysts expect a full-year loss of approximately $0.37 per share.
• CNDT shares opened at $1.63, compared with a 12-month range of $1.15 to $2.98. Analyst sentiment is mixed, with the stock carrying a consensus “Hold” rating.

Invst LLC bought a new stake in shares of Conduent Inc. (NASDAQ:CNDT - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,075,625 shares of the company's stock, valued at approximately $1,570,000. Invst LLC owned about 0.69% of Conduent at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CNDT. Global Retirement Partners LLC raised its position in Conduent by 28,720.0% during the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company's stock valued at $28,000 after purchasing an additional 14,360 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in shares of Conduent in the 2nd quarter worth about $29,000. Pallas Capital Advisors LLC purchased a new position in shares of Conduent in the 2nd quarter worth about $30,000. GSA Capital Partners LLP bought a new position in shares of Conduent during the 2nd quarter valued at about $30,000. Finally, M&T Bank Corp bought a new position in shares of Conduent during the 4th quarter valued at about $33,000. Institutional investors own 77.28% of the company's stock.

Conduent Stock Performance

Shares of NASDAQ:CNDT opened at $1.63 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average price of $1.52 and a 200-day moving average price of $1.50. The company has a market cap of $253.50 million, a price-to-earnings ratio of -1.07 and a beta of 1.44. Conduent Inc. has a 12 month low of $1.15 and a 12 month high of $2.98.

Conduent (NASDAQ:CNDT - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.01). Conduent had a negative return on equity of 9.02% and a negative net margin of 8.17%.The business had revenue of $531.00 million during the quarter, compared to the consensus estimate of $702.00 million. As a group, equities analysts anticipate that Conduent Inc. will post -0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CNDT. Wall Street Zen downgraded shares of Conduent from a "hold" rating to a "strong sell" rating in a research note on Saturday, August 15th. Zacks Research lowered Conduent from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 11th. Noble Financial upgraded Conduent to a "strong-buy" rating in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Conduent in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold".

Conduent Company Profile

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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