Conduent (NASDAQ:CNDT) CEO Harshavardhan Agadi Acquires 110,000 Shares

Conduent Inc. (NASDAQ:CNDT) CEO Harshavardhan Agadi purchased 110,000 shares of the stock in a transaction that occurred on Wednesday, February 18th. The stock was bought at an average price of $1.44 per share, with a total value of $158,400.00. Following the completion of the transaction, the chief executive officer owned 110,000 shares of the company’s stock, valued at $158,400. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Conduent Stock Up 11.2%

NASDAQ:CNDT opened at $1.59 on Friday. The company has a 50-day moving average of $1.76 and a 200 day moving average of $2.21. Conduent Inc. has a 1-year low of $1.18 and a 1-year high of $3.94. The firm has a market cap of $243.10 million, a PE ratio of -1.42 and a beta of 1.31. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.64 and a quick ratio of 1.64.

Conduent (NASDAQ:CNDT) last issued its earnings results on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). Conduent had a negative net margin of 5.59% and a negative return on equity of 7.82%. The business had revenue of $770.00 million during the quarter, compared to analyst estimates of $790.50 million. During the same quarter last year, the company earned ($0.15) earnings per share. Conduent’s quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts anticipate that Conduent Inc. will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arrowstreet Capital Limited Partnership raised its stake in shares of Conduent by 323.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,757,577 shares of the company’s stock worth $7,280,000 after buying an additional 2,106,956 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Conduent by 35.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,116,277 shares of the company’s stock valued at $13,663,000 after acquiring an additional 1,854,266 shares in the last quarter. Miller Value Partners LLC raised its position in Conduent by 38.5% during the fourth quarter. Miller Value Partners LLC now owns 5,583,385 shares of the company’s stock worth $10,720,000 after acquiring an additional 1,552,560 shares during the last quarter. AQR Capital Management LLC grew its holdings in Conduent by 136.5% during the 2nd quarter. AQR Capital Management LLC now owns 1,750,748 shares of the company’s stock valued at $4,622,000 after buying an additional 1,010,373 shares during the last quarter. Finally, Armistice Capital LLC purchased a new position in Conduent during the second quarter worth $2,207,000. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CNDT shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Conduent in a research report on Wednesday, January 21st. Wall Street Zen raised Conduent from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.