Conduent Inc. $CNDT Holdings Trimmed by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its stake in Conduent Inc. by 55.5% during Q1, now owning 172,614 shares valued at approximately $466,000.
• Conduent's recent quarterly earnings showed a revenue decline of 7.0% year-over-year, with an EPS of ($0.13), beating estimates by $0.06.
• Despite recent performance, analysts have a consensus rating of "Strong Buy" for Conduent, with upgrades from several equities research firms.

Russell Investments Group Ltd. lessened its holdings in shares of Conduent Inc. (NASDAQ:CNDT - Free Report) by 55.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 172,614 shares of the company's stock after selling 215,658 shares during the period. Russell Investments Group Ltd. owned 0.11% of Conduent worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CNDT. Wells Fargo & Company MN raised its holdings in shares of Conduent by 27.2% during the fourth quarter. Wells Fargo & Company MN now owns 94,545 shares of the company's stock valued at $382,000 after buying an additional 20,217 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Conduent by 14.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 44,438 shares of the company's stock valued at $180,000 after buying an additional 5,494 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Conduent during the fourth quarter valued at approximately $797,000. Barclays PLC raised its holdings in shares of Conduent by 9.9% during the fourth quarter. Barclays PLC now owns 298,713 shares of the company's stock valued at $1,207,000 after buying an additional 26,790 shares during the last quarter. Finally, Mariner LLC raised its holdings in shares of Conduent by 216.1% during the fourth quarter. Mariner LLC now owns 42,040 shares of the company's stock valued at $170,000 after buying an additional 28,740 shares during the last quarter. Institutional investors own 77.28% of the company's stock.

Conduent Price Performance

Conduent stock traded down $0.04 during mid-day trading on Thursday, hitting $2.78. The company's stock had a trading volume of 243,679 shares, compared to its average volume of 1,142,534. 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 market capitalization of $438.38 million, a P/E ratio of 69.39 and a beta of 1.35. Conduent Inc. has a twelve month low of $1.90 and a twelve month high of $4.90. The stock's fifty day moving average price is $2.66 and its two-hundred day moving average price is $2.65.

Conduent (NASDAQ:CNDT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm's quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.14) earnings per share. Research analysts forecast that Conduent Inc. will post -0.34 earnings per share for the current year.

Analyst Ratings Changes

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

Insider Transactions at Conduent

In other Conduent news, Director Harshavardhan V. Agadi purchased 100,000 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were purchased at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the completion of the transaction, the director owned 100,000 shares in the company, valued at $281,000. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.98% of the company's stock.

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.