PEAK6 Investments L.P. Buys New Position in Conduent Inc (NYSE:CNDT)

PEAK6 Investments L.P. acquired a new stake in shares of Conduent Inc (NYSE:CNDT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 32,031 shares of the company’s stock, valued at approximately $518,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Raymond James & Associates raised its stake in shares of Conduent by 40.0% during the fourth quarter. Raymond James & Associates now owns 25,599 shares of the company’s stock valued at $414,000 after purchasing an additional 7,316 shares during the period. Two Sigma Investments LP raised its stake in shares of Conduent by 31.7% during the fourth quarter. Two Sigma Investments LP now owns 2,192,325 shares of the company’s stock valued at $35,428,000 after purchasing an additional 527,934 shares during the period. Two Sigma Advisers LP raised its stake in shares of Conduent by 191.6% during the fourth quarter. Two Sigma Advisers LP now owns 2,667,300 shares of the company’s stock valued at $43,104,000 after purchasing an additional 1,752,570 shares during the period. Stone Ridge Asset Management LLC bought a new stake in shares of Conduent in the fourth quarter worth $2,256,000. Finally, Guggenheim Capital LLC increased its stake in shares of Conduent by 255.0% in the fourth quarter. Guggenheim Capital LLC now owns 553,105 shares of the company’s stock worth $8,938,000 after buying an additional 397,302 shares during the last quarter. Institutional investors own 93.14% of the company’s stock.

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CNDT stock traded down $0.16 during trading on Friday, hitting $18.60. 1,223,751 shares of the company’s stock traded hands, compared to its average volume of 1,615,139. 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 52 week low of $14.95 and a 52 week high of $20.32. The firm has a market cap of $3,948.40, a price-to-earnings ratio of 21.88 and a beta of -0.69.

Conduent (NYSE:CNDT) last released its earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.05. Conduent had a net margin of 3.01% and a return on equity of 5.53%. The firm had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was down 1.4% compared to the same quarter last year. analysts expect that Conduent Inc will post 1.09 EPS for the current fiscal year.

A number of analysts recently issued reports on CNDT shares. SunTrust Banks restated a “buy” rating and issued a $22.00 price target on shares of Conduent in a research note on Friday, February 23rd. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, February 23rd. Needham & Company LLC upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, March 6th. Morgan Stanley restated an “equal weight” rating and issued a $20.00 price target (up previously from $17.50) on shares of Conduent in a research note on Thursday, February 22nd. Finally, Cowen restated a “hold” rating on shares of Conduent in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $21.50.

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About Conduent

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).

Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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