Jane Street Group LLC Acquires New Holdings in Conduent Inc. (CNDT)

Jane Street Group LLC acquired a new position in shares of Conduent Inc. (NYSE:CNDT) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 37,576 shares of the company’s stock, valued at approximately $589,000.

Other large investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Conduent by 6.6% during the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after buying an additional 527 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in Conduent by 213.2% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after buying an additional 6,046 shares in the last quarter. First Allied Advisory Services Inc. bought a new position in Conduent during the third quarter valued at about $149,000. Stevens Capital Management LP bought a new position in Conduent during the second quarter valued at about $161,000. Finally, Pacad Investment Ltd. bought a new position in Conduent during the second quarter valued at about $161,000. Institutional investors and hedge funds own 88.68% of the company’s stock.

Conduent Inc. (NYSE CNDT) opened at $15.84 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.74 and a quick ratio of 1.74. The company has a market capitalization of $3,315.55 and a PE ratio of 18.99. Conduent Inc. has a 12 month low of $13.10 and a 12 month high of $18.15.

Conduent (NYSE:CNDT) last posted its quarterly earnings data on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.01. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. research analysts predict that Conduent Inc. will post 0.81 EPS for the current fiscal year.

Several equities analysts have weighed in on the company. BMO Capital Markets restated a “hold” rating and set a $18.00 target price on shares of Conduent in a report on Thursday, September 28th. BidaskClub lowered Conduent from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Cowen reiterated a “hold” rating on shares of Conduent in a research note on Friday, October 6th. Needham & Company LLC assumed coverage on Conduent in a research note on Wednesday, September 13th. They issued a “hold” rating on the stock. Finally, Cross Research upgraded Conduent from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.43.

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Conduent Company Profile

Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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