Adirondack Research & Management Inc. grew its holdings in Conduent Inc (NYSE:CNDT) by 35.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 603,928 shares of the company’s stock after acquiring an additional 156,865 shares during the period. Conduent accounts for 1.9% of Adirondack Research & Management Inc.’s portfolio, making the stock its 20th largest holding. Adirondack Research & Management Inc. owned 0.29% of Conduent worth $1,443,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Howard Financial Services LTD. acquired a new stake in shares of Conduent during the first quarter worth $25,000. Sontag Advisory LLC acquired a new stake in Conduent in the first quarter valued at $33,000. Principal Financial Group Inc. raised its stake in shares of Conduent by 73.7% during the 1st quarter. Principal Financial Group Inc. now owns 17,542 shares of the company’s stock worth $43,000 after buying an additional 7,443 shares during the last quarter. Forte Capital LLC ADV acquired a new position in shares of Conduent during the 2nd quarter worth $52,000. Finally, ProShare Advisors LLC raised its stake in shares of Conduent by 118.7% during the 2nd quarter. ProShare Advisors LLC now owns 22,670 shares of the company’s stock worth $54,000 after buying an additional 12,303 shares during the last quarter. Institutional investors and hedge funds own 87.58% of the company’s stock.
Shares of CNDT traded up $0.19 during trading on Friday, reaching $3.69. The company’s stock had a trading volume of 1,586,125 shares, compared to its average volume of 2,915,250. The company has a fifty day moving average of $2.97 and a two-hundred day moving average of $2.61. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.92. Conduent Inc has a twelve month low of $1.54 and a twelve month high of $7.97. The company has a market cap of $774.14 million, a price-to-earnings ratio of 3.51 and a beta of 1.87.
Conduent (NYSE:CNDT) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.17. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $925.50 million. Conduent had a positive return on equity of 6.33% and a negative net margin of 32.11%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter last year, the company earned $0.13 EPS. As a group, equities analysts forecast that Conduent Inc will post 0.62 EPS for the current fiscal year.
CNDT has been the subject of several research reports. Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Wednesday, August 12th. Needham & Company LLC lifted their price objective on Conduent from $3.00 to $6.00 and gave the stock a “buy” rating in a research report on Friday, August 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Conduent presently has a consensus rating of “Hold” and a consensus target price of $5.83.
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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