Insider Buying: Conduent (NASDAQ:CNDT) Director Purchases 50,000 Shares of Stock

Conduent Inc. (NASDAQ:CNDT) Director Hernandez Margarita Palau bought 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 18th. The shares were purchased at an average cost of $1.45 per share, with a total value of $72,500.00. Following the transaction, the director directly owned 50,000 shares of the company’s stock, valued at $72,500. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Conduent Stock Up 11.6%

NASDAQ CNDT traded up $0.17 on Friday, hitting $1.60. The stock had a trading volume of 692,517 shares, compared to its average volume of 1,444,751. The business’s fifty day moving average price is $1.77 and its 200 day moving average price is $2.21. The stock has a market cap of $244.01 million, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 35.25 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 Inc. has a 52-week low of $1.18 and a 52-week high of $3.94.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $790.50 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. Equities research analysts anticipate that Conduent Inc. will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Conduent

A number of institutional investors have recently bought and sold shares of the business. GatePass Capital LLC boosted its holdings in shares of Conduent by 2.3% in the 2nd quarter. GatePass Capital LLC now owns 223,100 shares of the company’s stock valued at $589,000 after acquiring an additional 5,000 shares during the last quarter. FNY Investment Advisers LLC grew its position in Conduent by 89.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after purchasing an additional 5,165 shares during the period. Sei Investments Co. raised its stake in shares of Conduent by 4.3% during the 3rd quarter. Sei Investments Co. now owns 201,619 shares of the company’s stock valued at $565,000 after buying an additional 8,381 shares during the last quarter. HTG Investment Advisors Inc. raised its stake in shares of Conduent by 66.8% during the 4th quarter. HTG Investment Advisors Inc. now owns 22,474 shares of the company’s stock valued at $43,000 after buying an additional 9,000 shares during the last quarter. Finally, Strs Ohio lifted its holdings in shares of Conduent by 6.8% in the 4th quarter. Strs Ohio now owns 171,500 shares of the company’s stock valued at $329,000 after buying an additional 10,900 shares during the period. 77.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CNDT has been the topic of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. Wall Street Zen downgraded shares of Conduent from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

About Conduent

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.