22Nw LP Acquires 15,403 Shares of Conduent Inc. (CNDT)
22Nw LP raised its holdings in shares of Conduent Inc. (NYSE:CNDT) by 23.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,340 shares of the company’s stock after acquiring an additional 15,403 shares during the quarter. 22Nw LP’s holdings in Conduent were worth $1,275,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of CNDT. The Manufacturers Life Insurance Company increased its holdings in Conduent by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after acquiring an additional 527 shares in the last quarter. Oppenheimer Asset Management Inc. grew its holdings in shares of Conduent by 213.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock worth $142,000 after buying an additional 6,046 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Conduent during the second quarter worth about $161,000. Stevens Capital Management LP purchased a new stake in shares of Conduent during the second quarter worth about $161,000. Finally, Advisory Services Network LLC grew its holdings in shares of Conduent by 173.9% during the second quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock worth $174,000 after buying an additional 6,929 shares in the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.
Shares of Conduent Inc. (NYSE:CNDT) opened at $15.09 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.74 and a quick ratio of 1.74. Conduent Inc. has a 12-month low of $13.10 and a 12-month high of $18.15. The stock has a market cap of $3,170.00 and a P/E ratio of 18.13.
Conduent (NYSE:CNDT) last released its earnings results on Wednesday, November 8th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.01. Conduent had a negative net margin of 16.18% and a positive return on equity of 5.45%. The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the company earned $0.24 earnings per share. The company’s quarterly revenue was down 7.3% on a year-over-year basis. analysts anticipate that Conduent Inc. will post 0.81 EPS for the current fiscal year.
CNDT has been the subject of a number of recent research reports. BidaskClub upgraded shares of Conduent from a “strong sell” rating to a “sell” rating in a report on Thursday, November 9th. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, November 9th. SunTrust Banks reiterated a “buy” rating and set a $20.00 price target on shares of Conduent in a report on Friday, November 10th. Cross Research upgraded shares of Conduent from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, BMO Capital Markets lowered their price target on shares of Conduent from $18.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $18.43.
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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