Conduent Inc (CNDT) Sees Large Volume Increase
Conduent Inc (NASDAQ:CNDT) shares saw strong trading volume on Friday . 6,465,468 shares traded hands during mid-day trading, an increase of 304% from the previous session’s volume of 1,599,520 shares.The stock last traded at $16.63 and had previously closed at $16.51.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Cowen and Company reissued a “hold” rating and issued a $18.00 price target on shares of Conduent in a report on Friday, July 28th. Finally, Citigroup Inc. reissued a “buy” rating and issued a $25.00 price target (up previously from $17.00) on shares of Conduent in a report on Friday, June 9th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.00.
The company’s market capitalization is $3.49 billion. The firm has a 50-day moving average price of $16.65 and a 200 day moving average price of $16.32.
Conduent (NASDAQ:CNDT) last announced its earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.16. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter last year, the firm earned $0.30 earnings per share. Conduent’s quarterly revenue was down 7.3% on a year-over-year basis. On average, equities research analysts predict that Conduent Inc will post $0.76 earnings per share for the current year.
In other Conduent news, EVP David Amoriell sold 106,500 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total value of $1,811,565.00. Following the completion of the sale, the executive vice president now directly owns 120,630 shares in the company, valued at $2,051,916.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of large investors have recently bought and sold shares of CNDT. The Manufacturers Life Insurance Company boosted its stake in Conduent by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after buying an additional 527 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Conduent by 213.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock worth $142,000 after buying an additional 6,046 shares during the last quarter. Pacad Investment Ltd. bought a new stake in Conduent during the second quarter worth approximately $161,000. Stevens Capital Management LP bought a new stake in Conduent during the second quarter worth approximately $161,000. Finally, Advisory Services Network LLC boosted its stake in Conduent by 173.9% in the second quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock worth $174,000 after buying an additional 6,929 shares during the last quarter.
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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).