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

Other large investors also recently added to or reduced their stakes in the company. Millennium Management LLC raised its stake in Conduent by 59.5% during the 4th quarter. Millennium Management LLC now owns 912,465 shares of the company's stock valued at $3,686,000 after purchasing an additional 340,283 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Conduent by 12.0% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,199,536 shares of the company's stock worth $5,939,000 after acquiring an additional 235,179 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Conduent by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 44,532 shares of the company's stock worth $180,000 after acquiring an additional 14,653 shares during the last quarter. Hsbc Holdings PLC increased its stake in shares of Conduent by 65.8% in the first quarter. Hsbc Holdings PLC now owns 259,850 shares of the company's stock worth $704,000 after acquiring an additional 103,099 shares during the last quarter. Finally, Graham Capital Management L.P. increased its stake in shares of Conduent by 66.0% in the first quarter. Graham Capital Management L.P. now owns 232,970 shares of the company's stock worth $629,000 after acquiring an additional 92,663 shares during the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

Conduent Stock Up 5.0%

NASDAQ:CNDT traded up $0.14 during trading hours on Thursday, reaching $2.94. The company's stock had a trading volume of 409,001 shares, compared to its average volume of 1,126,882. The company has a market cap of $464.43 million, a price-to-earnings ratio of 73.39 and a beta of 1.35. Conduent Inc. has a one year low of $1.90 and a one year high of $4.90. The business's 50-day moving average is $2.68 and its 200-day moving average is $2.58. 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 (NASDAQ:CNDT - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating 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 company had revenue of $754.00 million during the quarter, compared to analysts' expectations of $777.00 million. During the same period in the prior year, the company earned ($0.14) earnings per share. The business's quarterly revenue was down 7.0% compared to the same quarter last year. Equities research analysts predict that Conduent Inc. will post -0.34 EPS for the current year.

Analyst Upgrades and Downgrades

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

Conduent 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.