Invst LLC Buys Shares of 297,590 Conduent Inc. $CNDT

Key Points

• Invst LLC has acquired a new position in Conduent Inc., purchasing 297,590 shares valued at approximately $803,000, representing 0.18% of the company.
• Multiple institutional investors, including Principal Financial Group and Truvestments Capital, have also established new stakes in Conduent, indicating increased interest in the stock.
• Conduent's stock received upgrades from analysts, with Wall Street Zen raising its rating from "sell" to "hold" and Singular Research giving it a "strong-buy" rating.

Invst LLC purchased a new position in shares of Conduent Inc. (NASDAQ:CNDT - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 297,590 shares of the company's stock, valued at approximately $803,000. Invst LLC owned about 0.18% of Conduent as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CNDT. Vanguard Group Inc. grew its stake in Conduent by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 8,627,507 shares of the company's stock valued at $23,294,000 after buying an additional 60,398 shares during the last quarter. American Century Companies Inc. grew its stake in Conduent by 32.1% in the 1st quarter. American Century Companies Inc. now owns 3,110,253 shares of the company's stock valued at $8,398,000 after buying an additional 755,953 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Conduent by 12.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,199,536 shares of the company's stock valued at $5,939,000 after buying an additional 235,179 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Conduent by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company's stock valued at $5,300,000 after buying an additional 11,428 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Conduent by 5.3% in the 4th quarter. Northern Trust Corp now owns 1,515,776 shares of the company's stock valued at $6,124,000 after buying an additional 76,021 shares during the last quarter. Institutional investors and hedge funds own 77.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CNDT. Singular Research upgraded shares of Conduent to a "strong-buy" rating in a research note on Tuesday, August 19th. Wall Street Zen raised shares of Conduent from a "sell" rating to a "hold" rating in a report on Saturday, August 23rd. One equities research analyst has rated the stock with a Strong Buy rating, According to data from MarketBeat, the company has an average rating of "Strong Buy".

Conduent Stock Up 0.7%

CNDT traded up $0.02 during trading on Tuesday, reaching $2.78. The company had a trading volume of 1,080,236 shares, compared to its average volume of 1,132,081. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.65 and a quick ratio of 1.65. Conduent Inc. has a 12 month low of $1.90 and a 12 month high of $4.90. The business's fifty day moving average price is $2.68 and its 200 day moving average price is $2.58. The company has a market cap of $439.17 million, a P/E ratio of 69.52 and a beta of 1.35.

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

Insider Activity at Conduent

In other news, Director Harshavardhan V. Agadi bought 100,000 shares of the stock in a transaction that occurred on Wednesday, June 18th. The shares were acquired at an average cost of $2.81 per share, for a total transaction of $281,000.00. Following the completion of the acquisition, the director owned 100,000 shares in the company, valued at approximately $281,000. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.98% of the stock is currently owned by corporate insiders.

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.