Nisa Investment Advisors LLC Buys 2,000 Shares of Conduent Inc (CNDT)
Nisa Investment Advisors LLC increased its stake in shares of Conduent Inc (NASDAQ:CNDT) by 7.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,135 shares of the company’s stock after buying an additional 2,000 shares during the period. Nisa Investment Advisors LLC’s holdings in Conduent were worth $483,000 as of its most recent filing with the SEC.
Separately, Community Financial Services Group LLC bought a new stake in shares of Conduent during the first quarter valued at about $202,000.
Shares of Conduent Inc (NASDAQ CNDT) traded down 1.200% during trading on Friday, reaching $16.875. 1,102,484 shares of the company’s stock were exchanged. Conduent Inc has a 52-week low of $13.10 and a 52-week high of $18.15. The company’s market capitalization is $3.53 billion. The company has a 50 day moving average price of $16.28 and a 200-day moving average price of $16.08.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.16. Conduent had a negative net margin of 0.64% and a negative return on equity of 1.22%. The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the business posted $0.30 earnings per share. Conduent’s revenue was down 7.3% compared to the same quarter last year. On average, equities analysts forecast that Conduent Inc will post $0.76 earnings per share for the current year.
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Several analysts recently issued reports on CNDT shares. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday, April 28th. Cowen and Company started coverage on Conduent in a research note on Friday, May 19th. They set a “market perform” rating and a $18.00 target price for the company. Finally, Citigroup Inc. restated a “buy” rating and set a $25.00 target price (up from $17.00) on shares of Conduent in a research note on Friday, June 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Conduent presently has a consensus rating of “Hold” and a consensus target price of $18.00.
In related news, EVP David Amoriell sold 3,889 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were sold at an average price of $16.66, for a total value of $64,790.74. Following the transaction, the executive vice president now directly owns 120,630 shares in the company, valued at $2,009,695.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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