Conduent Inc (NYSE:CNDT) Stake Lifted by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd lifted its holdings in shares of Conduent Inc (NYSE:CNDT) by 170.1% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,997 shares of the company’s stock after buying an additional 3,777 shares during the period. Point72 Hong Kong Ltd’s holdings in Conduent were worth $109,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of CNDT. Wells Fargo & Company MN raised its holdings in shares of Conduent by 76.6% during the 1st quarter. Wells Fargo & Company MN now owns 3,822,441 shares of the company’s stock worth $71,251,000 after buying an additional 1,658,038 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Conduent by 3.2% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 121,240 shares of the company’s stock worth $2,260,000 after buying an additional 3,710 shares in the last quarter. Swiss National Bank grew its position in Conduent by 2.2% during the 1st quarter. Swiss National Bank now owns 311,054 shares of the company’s stock worth $5,798,000 after acquiring an additional 6,800 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Conduent by 3.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 621,627 shares of the company’s stock worth $11,588,000 after acquiring an additional 20,070 shares during the last quarter. Finally, Stevens Capital Management LP grew its position in Conduent by 386.0% during the 1st quarter. Stevens Capital Management LP now owns 65,457 shares of the company’s stock worth $1,220,000 after acquiring an additional 51,989 shares during the last quarter. 93.62% of the stock is owned by institutional investors.

In other Conduent news, President David Amoriell sold 33,903 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $21.30, for a total value of $722,133.90. Following the sale, the president now owns 83,888 shares in the company, valued at approximately $1,786,814.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company’s stock.

A number of brokerages recently weighed in on CNDT. Zacks Investment Research upgraded Conduent from a “sell” rating to a “hold” rating in a research report on Thursday, June 14th. BMO Capital Markets boosted their price objective on Conduent from $21.00 to $22.00 and gave the stock a “market perform” rating in a research report on Monday, June 11th. Morgan Stanley boosted their price objective on Conduent from $20.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 12th. Finally, JPMorgan Chase & Co. upgraded Conduent from a “neutral” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research report on Tuesday, August 14th. 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. Conduent currently has a consensus rating of “Buy” and a consensus target price of $23.00.

Shares of CNDT stock opened at $20.94 on Tuesday. Conduent Inc has a twelve month low of $14.95 and a twelve month high of $23.39. The firm has a market cap of $4.76 billion, a P/E ratio of 24.99 and a beta of -0.03. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.03 and a current ratio of 2.03.

Conduent (NYSE:CNDT) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. Conduent had a return on equity of 6.53% and a net margin of 2.63%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the company posted $0.16 EPS. The business’s revenue was down 7.3% on a year-over-year basis. Equities research analysts expect that Conduent Inc will post 1.15 EPS for the current fiscal year.

About Conduent

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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