Invst LLC Makes New $1.57 Million Investment in Conduent Inc. $CNDT

Invst LLC bought a new stake in shares of Conduent Inc. (NASDAQ:CNDT) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,075,625 shares of the company’s stock, valued at approximately $1,570,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Boothbay Fund Management LLC purchased a new stake in Conduent in the second quarter worth about $29,000. IHT Wealth Management LLC purchased a new position in shares of Conduent during the 2nd quarter worth approximately $34,000. Global Retirement Partners LLC grew its holdings in shares of Conduent by 28,720.0% during the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock worth $28,000 after acquiring an additional 14,360 shares during the period. Mercer Global Advisors Inc. ADV bought a new position in shares of Conduent in the 3rd quarter worth approximately $42,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Conduent in the 3rd quarter worth approximately $45,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CNDT shares. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a research report on Friday, July 17th. Noble Financial upgraded Conduent to a “strong-buy” rating in a report on Tuesday, May 12th. Wall Street Zen lowered Conduent from a “hold” rating to a “strong sell” rating in a research report on Saturday, August 15th. Finally, Zacks Research lowered shares of Conduent from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Conduent Price Performance

Shares of NASDAQ:CNDT opened at $1.63 on Wednesday. Conduent Inc. has a 1-year low of $1.15 and a 1-year high of $2.98. The company has a debt-to-equity ratio of 1.33, a current ratio of 1.55 and a quick ratio of 1.55. The business has a fifty day moving average price of $1.52 and a 200-day moving average price of $1.50. The company has a market capitalization of $253.50 million, a PE ratio of -1.07 and a beta of 1.44.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Monday, August 10th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.01). Conduent had a negative return on equity of 9.02% and a negative net margin of 8.17%.The firm had revenue of $531.00 million during the quarter, compared to analysts’ expectations of $702.00 million. As a group, equities analysts expect that Conduent Inc. will post -0.37 EPS for the current fiscal year.

Conduent 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.