Commonwealth Bank of Australia increased its position in Conduent Inc (NYSE:CNDT) by 125,257.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,100 shares of the company’s stock after acquiring an additional 35,072 shares during the quarter. Commonwealth Bank of Australia’s holdings in Conduent were worth $634,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CNDT. W.G. Shaheen & Associates DBA Whitney & Co purchased a new stake in Conduent in the 1st quarter worth about $121,000. SG Americas Securities LLC purchased a new stake in Conduent in the 2nd quarter worth about $142,000. BNP Paribas Arbitrage SA increased its holdings in Conduent by 416.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,972 shares of the company’s stock worth $145,000 after acquiring an additional 6,427 shares during the last quarter. US Bancorp DE increased its holdings in Conduent by 67.1% in the 2nd quarter. US Bancorp DE now owns 8,381 shares of the company’s stock worth $153,000 after acquiring an additional 3,366 shares during the last quarter. Finally, Signition LP purchased a new stake in Conduent in the 2nd quarter worth about $198,000. 93.63% of the stock is owned by institutional investors.

CNDT stock opened at $22.91 on Thursday. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.57. The stock has a market cap of $4.79 billion, a price-to-earnings ratio of 21.81 and a beta of -0.09. Conduent Inc has a twelve month low of $14.95 and a twelve month high of $23.39.

Conduent (NYSE:CNDT) last posted its earnings results on Wednesday, August 8th. The company reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.07. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.39 billion. Conduent had a return on equity of 6.53% and a net margin of 2.63%. The company’s quarterly revenue was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 EPS. sell-side analysts expect that Conduent Inc will post 1.15 EPS for the current fiscal year.

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price objective for the company in a report on Tuesday, August 14th. BMO Capital Markets reissued a “hold” rating on shares of Conduent in a report on Wednesday, August 8th. Morgan Stanley lifted their price objective on Conduent from $20.00 to $22.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 12th. Finally, Zacks Investment Research raised Conduent from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $23.00.

In other Conduent news, President David Amoriell sold 33,903 shares of Conduent stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $21.30, for a total transaction of $722,133.90. Following the completion of the transaction, the president now owns 83,888 shares of the company’s stock, valued at approximately $1,786,814.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by insiders.

Conduent Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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