Stevens Capital Management LP Has $1.45 Million Holdings in Conduent Inc (CNDT)
Stevens Capital Management LP lessened its position in Conduent Inc (NYSE:CNDT) by 35.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 64,325 shares of the company’s stock after selling 35,744 shares during the period. Stevens Capital Management LP’s holdings in Conduent were worth $1,449,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Xact Kapitalforvaltning AB increased its stake in shares of Conduent by 11.2% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 27,699 shares of the company’s stock valued at $624,000 after acquiring an additional 2,800 shares during the last quarter. Oppenheimer Asset Management Inc. increased its stake in shares of Conduent by 19.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,289 shares of the company’s stock valued at $350,000 after acquiring an additional 3,142 shares during the last quarter. US Bancorp DE increased its stake in Conduent by 67.1% during the 2nd quarter. US Bancorp DE now owns 8,381 shares of the company’s stock worth $153,000 after purchasing an additional 3,366 shares in the last quarter. Point72 Hong Kong Ltd increased its stake in Conduent by 170.1% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock worth $109,000 after purchasing an additional 3,777 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in Conduent by 38.9% during the 3rd quarter. Prudential Financial Inc. now owns 16,070 shares of the company’s stock worth $362,000 after purchasing an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 87.78% of the company’s stock.
CNDT has been the subject of a number of research reports. BMO Capital Markets reissued a “hold” rating on shares of Conduent in a research note on Wednesday, August 8th. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Monday, August 13th. JPMorgan Chase & Co. raised Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price target for the company in a research report on Tuesday, August 14th. SunTrust Banks reduced their price target on Conduent to $18.00 and set a “buy” rating for the company in a research report on Thursday, November 8th. Finally, Morgan Stanley set a $16.00 price target on Conduent and gave the stock a “hold” rating in a research report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. Conduent has an average rating of “Hold” and an average price target of $21.57.
Conduent (NYSE:CNDT) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.01). The company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. Conduent had a negative net margin of 1.21% and a positive return on equity of 6.88%. The company’s quarterly revenue was down 11.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.22 EPS. On average, sell-side analysts forecast that Conduent Inc will post 1.07 earnings per share for the current year.
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Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.
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