Investors Sell Shares of Conduent Inc (CNDT) on Strength (CNDT)
Investors sold shares of Conduent Inc (NASDAQ:CNDT) on strength during trading on Monday. $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 equities 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 equities analysts have recently issued reports on CNDT shares. Citigroup Inc. reiterated a “buy” rating and set a $25.00 target price (up from $17.00) on shares of Conduent in a research report on Friday, June 9th. Cowen and Company reiterated a “hold” rating and set a $18.00 target price on shares of Conduent in a research report on Friday, July 28th. Finally, Zacks Investment Research lowered shares of Conduent from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Conduent currently has an average rating of “Hold” and a consensus price target of $18.00.
The company’s market cap is $3.51 billion. The stock has a 50-day moving average price of $16.68 and a 200 day moving average price of $16.36.
Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.50 billion. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The firm’s revenue was down 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 EPS. Equities research analysts anticipate that Conduent Inc will post $0.76 EPS for the current fiscal year.
In related news, EVP David Amoriell sold 106,500 shares of Conduent stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the sale, the executive vice president now directly 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 Securities & Exchange Commission, which is available at the SEC website.
Several institutional investors have recently made changes to their positions in CNDT. Community Financial Services Group LLC bought a new stake in shares of Conduent during the 1st quarter valued at approximately $202,000. Cohen Capital Management Inc. bought a new stake in shares of Conduent during the 2nd quarter valued at approximately $1,881,000. Nisa Investment Advisors LLC grew its holdings in shares of Conduent by 7.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock valued at $483,000 after purchasing an additional 2,000 shares during the last quarter. Alpha Windward LLC grew its holdings in shares of Conduent by 1.5% during the 2nd quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock valued at $557,000 after purchasing an additional 524 shares during the last quarter. Finally, Kirr Marbach & Co. LLC IN bought a new stake in shares of Conduent during the 2nd quarter valued at approximately $8,922,000.
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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).
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