Conduent Inc (CNDT) Holdings Reduced by GAM Holding AG

GAM Holding AG cut its position in Conduent Inc (NYSE:CNDT) by 22.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 74,865 shares of the company’s stock after selling 21,261 shares during the period. GAM Holding AG’s holdings in Conduent were worth $1,686,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Iridian Asset Management LLC CT acquired a new position in shares of Conduent during the third quarter worth approximately $152,788,000. FMR LLC lifted its holdings in Conduent by 7.8% in the third quarter. FMR LLC now owns 23,719,861 shares of the company’s stock valued at $534,171,000 after buying an additional 1,711,445 shares during the period. First Trust Advisors LP lifted its holdings in Conduent by 303.2% in the third quarter. First Trust Advisors LP now owns 1,615,391 shares of the company’s stock valued at $36,379,000 after buying an additional 1,214,772 shares during the period. Hennessy Advisors Inc. acquired a new position in Conduent in the third quarter valued at approximately $27,137,000. Finally, Point72 Asset Management L.P. lifted its holdings in Conduent by 204.8% in the second quarter. Point72 Asset Management L.P. now owns 1,618,547 shares of the company’s stock valued at $29,409,000 after buying an additional 1,087,447 shares during the period. Hedge funds and other institutional investors own 87.78% of the company’s stock.

Shares of NYSE:CNDT opened at $12.99 on Thursday. Conduent Inc has a 52 week low of $12.18 and a 52 week high of $23.39. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 15.28 and a beta of 0.66.

Conduent (NYSE:CNDT) last issued its earnings results on Wednesday, November 7th. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.01). Conduent had a negative net margin of 1.21% and a positive return on equity of 6.88%. The firm had revenue of $1.30 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was down 11.9% on a year-over-year basis. On average, research analysts anticipate that Conduent Inc will post 1.07 EPS for the current year.

Several equities analysts recently weighed in on CNDT shares. JPMorgan Chase & Co. lowered shares of Conduent to a “buy” rating and set a $24.00 price objective on the stock. in a report on Wednesday, August 15th. Zacks Investment Research upgraded shares of Conduent from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a report on Monday, August 13th. SunTrust Banks cut their price objective on shares of Conduent to $18.00 and set a “buy” rating on the stock in a report on Thursday, November 8th. TheStreet lowered shares of Conduent from a “c-” rating to a “d+” rating in a report on Monday. Finally, Morgan Stanley set a $16.00 target price on shares of Conduent and gave the company a “hold” rating in a research note on Thursday, November 8th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $21.57.

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Conduent Company Profile

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and internationally. It operates in two segments, Commercial Industries and Public Sector. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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