Conduent Inc. (NASDAQ:CNDT) Director Acquires $281,000.00 in Stock

Conduent Inc. (NASDAQ:CNDT) Director Harshavardhan V. Agadi bought 100,000 shares of Conduent stock in a transaction that occurred on Wednesday, June 18th. The shares were acquired at an average price of $2.81 per share, for a total transaction of $281,000.00. Following the acquisition, the director now directly owns 100,000 shares in the company, valued at approximately $281,000. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Conduent Stock Performance

Conduent stock opened at $2.68 on Friday. Conduent Inc. has a 12-month low of $1.90 and a 12-month high of $4.90. The company has a market capitalization of $433.70 million, a price-to-earnings ratio of 1.96 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.64 and a quick ratio of 1.64. The firm’s fifty day moving average price is $2.30 and its 200 day moving average price is $3.17.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, May 7th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.06. Conduent had a net margin of 8.66% and a negative return on equity of 11.28%. The firm had revenue of $751.00 million for the quarter, compared to the consensus estimate of $776.00 million. During the same quarter in the previous year, the firm posted $0.46 EPS. The firm’s quarterly revenue was down 18.5% on a year-over-year basis. On average, research analysts forecast that Conduent Inc. will post -0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Conduent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. purchased a new stake in Conduent during the 1st quarter worth $28,000. Truvestments Capital LLC purchased a new stake in Conduent during the 1st quarter worth $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Conduent during the 1st quarter worth $32,000. Picton Mahoney Asset Management increased its position in shares of Conduent by 288.7% in the 4th quarter. Picton Mahoney Asset Management now owns 8,784 shares of the company’s stock worth $35,000 after purchasing an additional 6,524 shares during the last quarter. Finally, EP Wealth Advisors LLC bought a new stake in shares of Conduent in the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

About Conduent

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.