105,500 Shares in Conduent Inc (CNDT) Purchased by Numeric Investors LLC
Numeric Investors LLC purchased a new position in Conduent Inc (NASDAQ:CNDT) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 105,500 shares of the company’s stock, valued at approximately $1,682,000. Numeric Investors LLC owned 0.05% of Conduent at the end of the most recent quarter.
Several other large investors also recently modified their holdings of CNDT. Oppenheimer Asset Management Inc. lifted its stake in shares of Conduent by 213.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock worth $142,000 after acquiring an additional 6,046 shares during the period. Pacad Investment Ltd. acquired a new stake in shares of Conduent in the 2nd quarter worth approximately $161,000. Stevens Capital Management LP acquired a new stake in shares of Conduent in the 2nd quarter worth approximately $161,000. Community Financial Services Group LLC acquired a new stake in shares of Conduent in the 1st quarter worth approximately $202,000. Finally, Trexquant Investment LP acquired a new stake in shares of Conduent in the 2nd quarter worth approximately $204,000.
Shares of Conduent Inc (CNDT) opened at 15.94 on Friday. The company’s market capitalization is $3.35 billion. Conduent Inc has a 12-month low of $13.10 and a 12-month high of $17.12. The company has a 50 day moving average of $15.81 and a 200-day moving average of $15.81.
Conduent (NASDAQ:CNDT) last issued its earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. On average, equities analysts anticipate that Conduent Inc will post $0.76 EPS for the current fiscal year.
CNDT has been the subject of a number of research analyst reports. Needham & Company LLC initiated coverage on shares of Conduent in a research note on Wednesday, September 13th. They issued a “hold” rating for the company. Cowen and Company reaffirmed a “hold” rating and issued a $18.00 price target on shares of Conduent in a research note on Friday, July 28th. BidaskClub lowered shares of Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Zacks Investment Research raised shares of Conduent from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $18.00 price target on shares of Conduent in a research note on Thursday, September 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Conduent has an average rating of “Hold” and an average target price of $18.14.
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In related news, EVP David Amoriell sold 106,500 shares of Conduent stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the transaction, the executive vice president now owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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