Neuberger Berman Group LLC increased its stake in shares of Conduent Inc (NYSE:CNDT) by 2.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,782,785 shares of the company’s stock after purchasing an additional 34,394 shares during the quarter. Neuberger Berman Group LLC owned 0.85% of Conduent worth $27,936,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its position in shares of Conduent by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after acquiring an additional 527 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in shares of Conduent by 213.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after purchasing an additional 6,046 shares during the period. First Allied Advisory Services Inc. acquired a new stake in shares of Conduent in the 3rd quarter valued at about $149,000. Stevens Capital Management LP acquired a new stake in shares of Conduent in the 2nd quarter valued at about $161,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of Conduent in the 2nd quarter valued at about $161,000. 88.67% of the stock is owned by hedge funds and other institutional investors.
CNDT has been the subject of a number of research analyst reports. Cross Research raised Conduent from a “hold” rating to a “buy” rating in a research report on Tuesday, November 7th. SunTrust Banks reaffirmed a “buy” rating and set a $20.00 price objective on shares of Conduent in a research note on Friday, November 10th. BMO Capital Markets reaffirmed a “hold” rating and set a $18.00 price objective on shares of Conduent in a research note on Thursday, September 28th. BidaskClub downgraded Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Finally, Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research note on Thursday, November 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $19.60.
Conduent Inc (CNDT) traded up $0.20 on Friday, hitting $16.91. The company had a trading volume of 1,780,000 shares, compared to its average volume of 1,816,571. The firm has a market cap of $3,515.40 and a PE ratio of -3.49. The company has a current ratio of 1.74, a quick ratio of 1.74 and a debt-to-equity ratio of 0.60. Conduent Inc has a 1-year low of $13.10 and a 1-year high of $18.15.
Conduent (NYSE:CNDT) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.22 earnings per share 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 analysts’ expectations of $1.50 billion. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The company’s revenue was down 7.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.24 EPS. equities analysts expect that Conduent Inc will post 0.81 earnings per share for the current fiscal year.
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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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