Jane Street Group LLC trimmed its holdings in shares of Conduent Inc (NYSE:CNDT) by 28.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,471 shares of the company’s stock after selling 19,661 shares during the quarter. Jane Street Group LLC’s holdings in Conduent were worth $881,000 as of its most recent filing with the SEC.
A number of other large investors have also added to or reduced their stakes in CNDT. Oppenheimer Asset Management Inc. increased its holdings in Conduent by 19.5% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 19,289 shares of the company’s stock valued at $350,000 after buying an additional 3,142 shares during the period. US Bancorp DE increased its holdings in Conduent by 67.1% in the 2nd quarter. US Bancorp DE now owns 8,381 shares of the company’s stock valued at $153,000 after buying an additional 3,366 shares during the period. Point72 Hong Kong Ltd increased its holdings in Conduent by 170.1% in the 2nd quarter. Point72 Hong Kong Ltd now owns 5,997 shares of the company’s stock valued at $109,000 after buying an additional 3,777 shares during the period. Tower Research Capital LLC TRC increased its holdings in Conduent by 65.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 11,623 shares of the company’s stock valued at $211,000 after buying an additional 4,605 shares during the period. Finally, Northern Trust Corp increased its holdings in Conduent by 0.5% in the 1st quarter. Northern Trust Corp now owns 1,025,710 shares of the company’s stock valued at $19,120,000 after buying an additional 4,829 shares during the period. 93.62% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have commented on CNDT. JPMorgan Chase & Co. lowered shares of Conduent to a “buy” rating and set a $24.00 target price on the stock. in a report on Wednesday, August 15th. BMO Capital Markets lifted their price target on shares of Conduent from $21.00 to $22.00 and gave the company a “market perform” rating in a report on Monday, June 11th. Zacks Investment Research raised shares of Conduent from a “sell” rating to a “hold” rating in a report on Thursday, June 14th. Finally, Morgan Stanley lifted their price target on shares of Conduent from $20.00 to $22.00 and gave the company an “equal weight” rating in a report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Conduent presently has an average rating of “Buy” and a consensus price target of $23.00.
Shares of Conduent stock opened at $21.17 on Monday. The company has a market cap of $4.76 billion, a P/E ratio of 24.91 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 Inc has a 1 year low of $14.95 and a 1 year high of $23.39.
Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, August 8th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.39 billion. Conduent had a net margin of 2.63% and a return on equity of 6.53%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.16 EPS. Equities research analysts forecast that Conduent Inc will post 1.15 EPS for the current year.
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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