Conduent Inc (CNDT) Shares Bought by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. grew its position in Conduent Inc (NASDAQ:CNDT) by 213.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,882 shares of the company’s stock after acquiring an additional 6,046 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Conduent were worth $142,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Pacad Investment Ltd. acquired a new stake in shares of Conduent in the second quarter valued at approximately $161,000. Community Financial Services Group LLC purchased a new stake in shares of Conduent during the first quarter worth approximately $202,000. Trexquant Investment LP purchased a new stake in shares of Conduent during the second quarter worth approximately $204,000. Teacher Retirement System of Texas raised its stake in shares of Conduent by 0.7% during the second quarter. Teacher Retirement System of Texas now owns 13,816 shares of the company’s stock worth $220,000 after purchasing an additional 98 shares during the last quarter. Finally, Sei Investments Co. raised its stake in shares of Conduent by 20.7% during the second quarter. Sei Investments Co. now owns 14,787 shares of the company’s stock worth $235,000 after purchasing an additional 2,533 shares during the last quarter.
Several equities research analysts have recently commented on CNDT shares. Citigroup Inc. restated a “buy” rating and set a $25.00 price target (up previously from $17.00) on shares of Conduent in a research note on Friday, June 9th. BidaskClub cut Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday. Needham & Company LLC started coverage on Conduent in a research note on Wednesday, September 13th. They set a “hold” rating for the company. Zacks Investment Research cut Conduent from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Cowen and Company restated a “hold” rating and set a $18.00 price target on shares of Conduent in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $18.00.
In related news, EVP David Amoriell sold 106,500 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 120,630 shares in the company, valued at approximately $2,051,916.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Conduent Inc (CNDT) opened at 15.49 on Friday. The stock’s market cap is $3.26 billion. Conduent Inc has a 1-year low of $13.10 and a 1-year high of $17.12. The stock’s 50 day moving average price is $16.00 and its 200 day moving average price is $16.00.
Conduent (NASDAQ:CNDT) last released its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.16. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Conduent Inc will post $0.76 EPS for the current fiscal year.
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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