Conduent (NASDAQ:CNDT) Director Michael Fucci Purchases 60,000 Shares of Stock

Conduent Inc. (NASDAQ:CNDT) Director Michael Fucci purchased 60,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was bought at an average cost of $1.44 per share, with a total value of $86,400.00. Following the purchase, the director owned 166,102 shares of the company’s stock, valued at approximately $239,186.88. This trade represents a 56.55% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Conduent Trading Up 11.6%

Shares of NASDAQ CNDT traded up $0.17 during midday trading on Friday, reaching $1.60. The stock had a trading volume of 692,517 shares, compared to its average volume of 1,444,751. The company’s 50 day moving average price is $1.77 and its 200 day moving average price is $2.21. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.64 and a current ratio of 1.64. Conduent Inc. has a twelve month low of $1.18 and a twelve month high of $3.94. The firm has a market cap of $244.01 million, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 35.25 and a beta of 1.31.

Conduent (NASDAQ:CNDT) last announced its earnings results on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). The business had revenue of $770.00 million for the quarter, compared to the consensus estimate of $790.50 million. Conduent had a negative net margin of 5.59% and a negative return on equity of 7.82%. The firm’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.15) EPS. As a group, sell-side analysts expect that Conduent Inc. will post -0.34 EPS for the current year.

Hedge Funds Weigh In On Conduent

Several institutional investors and hedge funds have recently bought and sold shares of CNDT. Global Retirement Partners LLC raised its stake in shares of Conduent by 28,720.0% in the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after buying an additional 14,360 shares during the period. Boothbay Fund Management LLC purchased a new position in Conduent in the 2nd quarter valued at approximately $29,000. FNY Investment Advisers LLC raised its holdings in Conduent by 89.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after acquiring an additional 5,165 shares during the period. M&T Bank Corp purchased a new position in shares of Conduent in the fourth quarter valued at $33,000. Finally, Modern Wealth Management LLC purchased a new stake in shares of Conduent in the third quarter worth about $34,000. 77.28% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CNDT has been the subject of several recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Wednesday, January 21st. Wall Street Zen downgraded Conduent from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.