Stephen Henry Wood Acquires 47,455 Shares of Conduent Incorporated (NASDAQ:CNDT) Stock

Conduent Incorporated (NASDAQ:CNDTGet Rating) CFO Stephen Henry Wood bought 47,455 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were purchased at an average price of $4.21 per share, with a total value of $199,785.55. Following the purchase, the chief financial officer now owns 478,379 shares of the company’s stock, valued at approximately $2,013,975.59. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Conduent Stock Performance

NASDAQ:CNDT opened at $4.34 on Friday. The firm’s 50 day moving average is $4.55 and its two-hundred day moving average is $4.79. Conduent Incorporated has a fifty-two week low of $3.71 and a fifty-two week high of $7.50. The company has a quick ratio of 1.77, a current ratio of 1.78 and a debt-to-equity ratio of 1.04. The company has a market cap of $936.53 million, a P/E ratio of 9.86 and a beta of 1.65.

Conduent (NASDAQ:CNDTGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $967.00 million during the quarter, compared to analyst estimates of $970.75 million. Conduent had a net margin of 2.69% and a return on equity of 9.08%. The business’s revenue was down 5.9% on a year-over-year basis. During the same period last year, the business earned $0.15 EPS. Analysts expect that Conduent Incorporated will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CNDT shares. TheStreet raised shares of Conduent from a “d+” rating to a “c” rating in a research report on Tuesday, May 24th. Cowen cut their price target on shares of Conduent to $4.50 in a report on Friday, July 22nd. Four analysts have rated the stock with a hold rating, Based on data from MarketBeat, Conduent has a consensus rating of “Hold” and a consensus target price of $6.17.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Gotham Asset Management LLC boosted its holdings in shares of Conduent by 60.9% in the 4th quarter. Gotham Asset Management LLC now owns 29,778 shares of the company’s stock valued at $159,000 after buying an additional 11,267 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of Conduent during the 4th quarter worth about $4,006,000. Corton Capital Inc. acquired a new position in shares of Conduent in the 4th quarter worth approximately $295,000. Virginia Retirement Systems ET AL grew its stake in shares of Conduent by 11.3% in the 1st quarter. Virginia Retirement Systems ET AL now owns 186,100 shares of the company’s stock worth $960,000 after purchasing an additional 18,900 shares during the last quarter. Finally, Russell Investments Group Ltd. increased its position in shares of Conduent by 213.9% in the fourth quarter. Russell Investments Group Ltd. now owns 133,901 shares of the company’s stock worth $714,000 after acquiring an additional 91,246 shares in the last quarter. 77.28% of the stock is owned by institutional investors and hedge funds.

Conduent Company Profile

(Get Rating)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.

Further Reading

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