Neuberger Berman Group LLC Increases Stock Holdings in Conduent Inc. $CNDT

Neuberger Berman Group LLC raised its stake in Conduent Inc. (NASDAQ:CNDT) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,239,805 shares of the company’s stock after buying an additional 445,372 shares during the period. Neuberger Berman Group LLC owned about 9.65% of Conduent worth $40,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Truvestments Capital LLC purchased a new stake in shares of Conduent during the 1st quarter valued at $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Conduent in the first quarter valued at approximately $32,000. HTG Investment Advisors Inc. acquired a new stake in shares of Conduent in the 2nd quarter worth $36,000. Pallas Capital Advisors LLC purchased a new position in shares of Conduent during the 2nd quarter worth $43,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Conduent in the second quarter valued at $66,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CNDT. Singular Research raised Conduent to a “strong-buy” rating in a research note on Tuesday, August 19th. Wall Street Zen lowered Conduent from a “hold” rating to a “sell” rating in a research report on Saturday, November 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy”.

Conduent Price Performance

Shares of Conduent stock opened at $1.92 on Friday. Conduent Inc. has a 52 week low of $1.72 and a 52 week high of $4.90. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.97. The stock has a market cap of $293.55 million, a PE ratio of -1.96 and a beta of 1.39. The company’s 50-day moving average price is $2.38 and its two-hundred day moving average price is $2.53.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.02). Conduent had a negative net margin of 4.85% and a negative return on equity of 8.74%. The company had revenue of $767.00 million during the quarter, compared to the consensus estimate of $792.00 million. During the same period in the prior year, the company posted ($0.14) EPS. Conduent’s quarterly revenue was down 1.8% on a year-over-year basis. Conduent has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Conduent Inc. will post -0.34 EPS for the current fiscal year.

Conduent Profile

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.