Conduent Inc. (CNDT) Stake Decreased by Schroder Investment Management Group
Schroder Investment Management Group cut its position in shares of Conduent Inc. (NYSE:CNDT) by 11.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,620 shares of the company’s stock after selling 18,940 shares during the period. Schroder Investment Management Group owned 0.07% of Conduent worth $2,195,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in CNDT. The Manufacturers Life Insurance Company grew its stake in Conduent by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after buying an additional 527 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in Conduent by 213.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after buying an additional 6,046 shares during the last quarter. Stevens Capital Management LP acquired a new position in Conduent in the 2nd quarter valued at about $161,000. Pacad Investment Ltd. acquired a new position in Conduent in the 2nd quarter valued at about $161,000. Finally, Advisory Services Network LLC grew its stake in Conduent by 173.9% in the 2nd quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock valued at $174,000 after buying an additional 6,929 shares during the last quarter. Institutional investors own 88.68% of the company’s stock.
Conduent Inc. (NYSE:CNDT) opened at $15.73 on Thursday. Conduent Inc. has a 52 week low of $13.10 and a 52 week high of $18.15. The company has a market cap of $3,229.29 and a PE ratio of 18.49. 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. Conduent had a negative net margin of 16.18% and a positive return on equity of 5.45%. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 EPS. equities analysts forecast that Conduent Inc. will post 0.81 earnings per share for the current year.
A number of research analysts recently commented on the stock. Zacks Investment Research lowered shares of Conduent from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Conduent from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 9th. Needham & Company LLC assumed coverage on shares of Conduent in a research note on Wednesday, September 13th. They issued a “hold” rating on the stock. Cowen reiterated a “hold” rating on shares of Conduent in a research note on Friday, October 6th. Finally, BMO Capital Markets decreased their price target on shares of Conduent from $18.00 to $17.00 and set a “market perform” rating on the stock in a research note on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. Conduent presently has an average rating of “Hold” and an average price target of $18.43.
TRADEMARK VIOLATION NOTICE: This news story was reported by Watch List News and is the property of of Watch List News. If you are reading this news story on another publication, it was illegally stolen and republished in violation of United States & international copyright & trademark law. The correct version of this news story can be viewed at https://www.watchlistnews.com/conduent-inc-cndt-stake-decreased-by-schroder-investment-management-group/1763334.html.
Conduent Company Profile
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).
Receive News & Ratings for Conduent Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Conduent and related companies with Analyst Ratings Network's FREE daily email newsletter.