MUFG Securities EMEA plc Takes $1.32 Million Position in Conduent Inc (CNDT)
MUFG Securities EMEA plc acquired a new stake in Conduent Inc (NYSE:CNDT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 123,853 shares of the company’s stock, valued at approximately $1,317,000. MUFG Securities EMEA plc owned 0.06% of Conduent at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in CNDT. Iridian Asset Management LLC CT purchased a new stake in Conduent in the 3rd quarter valued at about $152,788,000. FMR LLC boosted its position in Conduent by 7.8% in the 3rd quarter. FMR LLC now owns 23,719,861 shares of the company’s stock valued at $534,171,000 after buying an additional 1,711,445 shares during the period. Investment Counselors of Maryland LLC purchased a new stake in Conduent in the 4th quarter valued at about $17,058,000. River Road Asset Management LLC boosted its position in Conduent by 98.9% in the 4th quarter. River Road Asset Management LLC now owns 2,926,871 shares of the company’s stock valued at $31,113,000 after buying an additional 1,455,163 shares during the period. Finally, First Eagle Investment Management LLC purchased a new stake in Conduent in the 3rd quarter valued at about $23,771,000. 84.84% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on CNDT shares. TheStreet cut shares of Conduent from a “c-” rating to a “d+” rating in a research report on Monday, December 3rd. Zacks Investment Research raised shares of Conduent from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Finally, BMO Capital Markets reissued a “hold” rating and issued a $17.00 price objective on shares of Conduent in a research report on Wednesday, February 20th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $19.40.
Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, February 20th. The company reported $0.26 earnings per share for the quarter, hitting the consensus estimate of $0.26. Conduent had a negative net margin of 7.71% and a positive return on equity of 6.77%. The firm had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the prior year, the company earned $0.31 EPS. The company’s revenue was down 14.1% compared to the same quarter last year. As a group, equities analysts expect that Conduent Inc will post 0.98 EPS for the current year.
Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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