PEAK6 Investments L.P. bought a new position in Conduent Inc (NYSE:CNDT) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 32,031 shares of the company’s stock, valued at approximately $518,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its position in Conduent by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after acquiring an additional 527 shares in the last quarter. Nationwide Fund Advisors boosted its position in Conduent by 13.0% during the 3rd quarter. Nationwide Fund Advisors now owns 49,740 shares of the company’s stock valued at $779,000 after acquiring an additional 5,740 shares in the last quarter. Stevens Capital Management LP boosted its position in Conduent by 74.3% during the 3rd quarter. Stevens Capital Management LP now owns 17,652 shares of the company’s stock valued at $277,000 after acquiring an additional 7,524 shares in the last quarter. State of Wisconsin Investment Board boosted its position in Conduent by 26.8% during the 3rd quarter. State of Wisconsin Investment Board now owns 266,148 shares of the company’s stock valued at $4,171,000 after acquiring an additional 56,304 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in Conduent during the 3rd quarter valued at approximately $386,000. 93.15% of the stock is currently owned by institutional investors.
Several analysts have weighed in on the company. Susquehanna Bancshares assumed coverage on Conduent in a research report on Wednesday, March 7th. They set a “positive” rating and a $23.00 price objective on the stock. Needham & Company LLC raised Conduent from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research report on Tuesday, March 6th. Cowen reaffirmed a “hold” rating on shares of Conduent in a research report on Tuesday, February 27th. SunTrust Banks reaffirmed a “buy” rating and set a $22.00 price objective on shares of Conduent in a research report on Friday, February 23rd. Finally, Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $21.50.
Shares of Conduent Inc (NYSE:CNDT) opened at $19.63 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.98 and a quick ratio of 1.98. Conduent Inc has a 12-month low of $14.95 and a 12-month high of $20.32. The company has a market capitalization of $4,127.30, a P/E ratio of 23.94 and a beta of -1.08.
Conduent (NYSE:CNDT) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.05. Conduent had a return on equity of 5.53% and a net margin of 3.01%. The firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. research analysts predict that Conduent Inc will post 1.09 earnings per share for the current year.
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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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