Strs Ohio Invests $403,000 in Conduent Inc. $CNDT

Key Points

• Strs Ohio invested approximately $403,000 in Conduent Inc., acquiring 149,200 shares, which represents about 0.09% of the company's total stock.
• Conduent's stock opened at $2.88 and has seen a 12-month range between $1.90 and $4.90, with a market cap of approximately $454.95 million.
• Analysts recently upgraded Conduent's rating, with one firm moving it to a "strong-buy" and another to a "hold." The average rating now stands at "Strong Buy."

Strs Ohio purchased a new position in shares of Conduent Inc. (NASDAQ:CNDT - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 149,200 shares of the company's stock, valued at approximately $403,000. Strs Ohio owned approximately 0.09% of Conduent at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CNDT. Principal Financial Group Inc. bought a new stake in Conduent in the first quarter valued at $28,000. Truvestments Capital LLC purchased a new position in Conduent in the 1st quarter worth about $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Conduent in the 1st quarter worth about $32,000. Vestmark Advisory Solutions Inc. grew its stake in Conduent by 114.5% during the 1st quarter. Vestmark Advisory Solutions Inc. now owns 28,014 shares of the company's stock valued at $76,000 after acquiring an additional 14,955 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Conduent by 63.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,251 shares of the company's stock valued at $106,000 after acquiring an additional 15,270 shares in the last quarter. Institutional investors and hedge funds own 77.28% of the company's stock.

Conduent Stock Up 1.4%

CNDT opened at $2.88 on Tuesday. The business has a 50 day moving average price of $2.69 and a 200 day moving average price of $2.57. Conduent Inc. has a twelve month low of $1.90 and a twelve month high of $4.90. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $454.95 million, a P/E ratio of 72.02 and a beta of 1.35.

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

Wall Street Analyst Weigh In

CNDT has been the subject of several recent research reports. Singular Research raised Conduent to a "strong-buy" rating in a research note on Tuesday, August 19th. Wall Street Zen raised Conduent from a "sell" rating to a "hold" rating in a research note on Saturday, August 23rd. One 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".

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.

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