Axa Reduces Position in Conduent Inc (CNDT)

Axa reduced its position in shares of Conduent Inc (NYSE:CNDT) by 11.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 988,400 shares of the company’s stock after selling 123,100 shares during the period. Axa owned approximately 0.47% of Conduent worth $22,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Sterling Capital Management LLC acquired a new stake in Conduent during the 3rd quarter worth approximately $2,970,000. Wallace Capital Management Inc. raised its holdings in Conduent by 0.5% in the 2nd quarter. Wallace Capital Management Inc. now owns 1,257,612 shares of the company’s stock valued at $22,851,000 after acquiring an additional 6,000 shares in the last quarter. Barings LLC acquired a new position in Conduent in the 3rd quarter valued at $623,000. Janus Henderson Group PLC acquired a new position in Conduent in the 2nd quarter valued at $1,294,000. Finally, US Bancorp DE raised 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 acquiring an additional 3,366 shares in the last quarter. 93.37% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE CNDT opened at $13.35 on Friday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 15.71 and a beta of 0.88. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.45. Conduent Inc has a fifty-two week low of $12.18 and a fifty-two week high of $23.39.

Conduent (NYSE:CNDT) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.28 earnings per share 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 company had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the firm earned $0.22 earnings per share. Conduent’s revenue was down 11.9% on a year-over-year basis. As a group, equities research analysts forecast that Conduent Inc will post 1.07 EPS for the current fiscal year.

Several brokerages have weighed in on CNDT. SunTrust Banks dropped their price objective on Conduent to $18.00 and set a “buy” rating for the company in a report on Thursday, November 8th. Zacks Investment Research cut Conduent from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 13th. JPMorgan Chase & Co. cut Conduent to a “buy” rating and set a $24.00 price objective for the company. in a report on Wednesday, August 15th. BMO Capital Markets reaffirmed a “hold” rating on shares of Conduent in a report on Wednesday, August 8th. Finally, ValuEngine cut Conduent from a “hold” rating to a “sell” rating in a report on Thursday, November 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. Conduent currently has a consensus rating of “Hold” and a consensus price target of $21.57.

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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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