Conduent Inc. (CNDT) Holdings Trimmed by Earnest Partners LLC
Earnest Partners LLC cut its holdings in shares of Conduent Inc. (NYSE:CNDT) by 11.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,371 shares of the company’s stock after selling 7,342 shares during the period. Earnest Partners LLC’s holdings in Conduent were worth $852,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Frontier Capital Management Co. LLC increased its holdings in shares of Conduent by 33.9% during the second quarter. Frontier Capital Management Co. LLC now owns 8,926,287 shares of the company’s stock worth $142,285,000 after buying an additional 2,261,783 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Conduent by 43.4% during the second quarter. Lord Abbett & CO. LLC now owns 5,974,165 shares of the company’s stock worth $95,228,000 after buying an additional 1,806,896 shares in the last quarter. Samlyn Capital LLC acquired a new position in shares of Conduent during the second quarter worth $16,442,000. Junto Capital Management LP acquired a new position in shares of Conduent during the second quarter worth $16,386,000. Finally, Neuberger Berman Group LLC increased its holdings in shares of Conduent by 133.3% during the second quarter. Neuberger Berman Group LLC now owns 1,748,391 shares of the company’s stock worth $27,869,000 after buying an additional 999,084 shares in the last quarter. Hedge funds and other institutional investors own 88.68% of the company’s stock.
Several research analysts have recently issued reports on CNDT shares. Cross Research upgraded shares of Conduent from a “hold” rating to a “buy” rating in a report on Tuesday, November 7th. SunTrust Banks reiterated a “buy” rating and set a $20.00 price target on shares of Conduent in a report on Friday, November 10th. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Thursday, November 9th. Needham & Company LLC initiated coverage on Conduent in a report on Wednesday, September 13th. They issued a “hold” rating for the company. Finally, Cowen restated a “hold” rating on shares of Conduent in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $18.43.
Shares of Conduent Inc. (NYSE:CNDT) opened at $15.35 on Wednesday. The firm has a market capitalization of $3,250.33 and a price-to-earnings ratio of 18.61. Conduent Inc. has a 1-year low of $13.10 and a 1-year high of $18.15. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.60.
Conduent (NYSE:CNDT) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. Conduent’s quarterly revenue was down 7.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. equities analysts anticipate that Conduent Inc. will post 0.81 EPS for the current fiscal year.
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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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