Traders Sell Shares of Conduent Inc (CNDT) on Strength (CNDT)
Traders sold shares of Conduent Inc (NASDAQ:CNDT) on strength during trading on Friday. $2.93 million flowed into the stock on the tick-up and $83.16 million flowed out of the stock on the tick-down, for a money net flow of $80.23 million out of the stock. Of all companies tracked, Conduent had the 0th highest net out-flow for the day. Conduent traded up $0.12 for the day and closed at $16.63
A number of brokerages have recently issued reports on CNDT. Cowen and Company reaffirmed a “hold” rating and set a $18.00 price target on shares of Conduent in a report on Friday, July 28th. Zacks Investment Research downgraded Conduent from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Finally, Citigroup Inc. reaffirmed a “buy” rating and set a $25.00 price target (up from $17.00) on shares of Conduent in a report on Friday, June 9th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $18.00.
The stock’s 50-day moving average price is $16.65 and its 200 day moving average price is $16.32. The firm’s market cap is $3.49 billion.
Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.16. The firm had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.50 billion. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.30 EPS. On average, analysts predict that Conduent Inc will post $0.76 EPS for the current year.
In other Conduent news, EVP David Amoriell sold 106,500 shares of Conduent stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the completion of the sale, the executive vice president now owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Hedge funds have recently modified their holdings of the company. Community Financial Services Group LLC purchased a new stake in shares of Conduent during the first quarter worth approximately $202,000. Cohen Capital Management Inc. purchased a new stake in shares of Conduent during the second quarter worth approximately $1,881,000. Kirr Marbach & Co. LLC IN purchased a new stake in shares of Conduent during the second quarter worth approximately $8,922,000. First Quadrant L P CA boosted its stake in shares of Conduent by 79.3% in the second quarter. First Quadrant L P CA now owns 133,907 shares of the company’s stock worth $2,134,000 after buying an additional 59,210 shares in the last quarter. Finally, Alpha Windward LLC boosted its stake in shares of Conduent by 1.5% in the second quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock worth $557,000 after buying an additional 524 shares in the last quarter.
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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