Teacher Retirement System of Texas Acquires 98 Shares of Conduent Inc (CNDT)
Teacher Retirement System of Texas raised its stake in Conduent Inc (NASDAQ:CNDT) by 0.7% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 13,816 shares of the company’s stock after buying an additional 98 shares during the period. Teacher Retirement System of Texas’ holdings in Conduent were worth $220,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Russell Investments Group Ltd. boosted its position in shares of Conduent by 43.0% in the second quarter. Russell Investments Group Ltd. now owns 941,144 shares of the company’s stock valued at $15,000,000 after buying an additional 282,853 shares during the last quarter. St. James Investment Company LLC acquired a new position in shares of Conduent during the second quarter valued at approximately $13,580,000. Kirr Marbach & Co. LLC IN acquired a new position in shares of Conduent during the second quarter valued at approximately $8,922,000. John G Ullman & Associates Inc. boosted its position in shares of Conduent by 98.6% in the second quarter. John G Ullman & Associates Inc. now owns 184,234 shares of the company’s stock valued at $2,937,000 after buying an additional 91,458 shares during the last quarter. Finally, First Quadrant L P CA boosted its position 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 valued at $2,134,000 after buying an additional 59,210 shares during the last quarter.
Conduent Inc (NASDAQ CNDT) opened at 16.72 on Wednesday. Conduent Inc has a 12 month low of $13.10 and a 12 month high of $18.15. The stock has a 50 day moving average of $16.55 and a 200 day moving average of $16.24. The company’s market capitalization is $3.51 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, 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 firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period in the previous year, the firm earned $0.30 EPS. The business’s quarterly revenue was down 7.3% on a year-over-year basis. Equities analysts anticipate that Conduent Inc will post $0.76 EPS for the current fiscal year.
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Several research analysts recently commented on CNDT shares. Cowen and Company started coverage on shares of Conduent in a report on Friday, May 19th. They set a “market perform” rating and a $18.00 target price for the company. Citigroup Inc. restated a “buy” rating and set a $25.00 target price (up previously from $17.00) on shares of Conduent in a report on Friday, June 9th. Finally, Zacks Investment Research cut shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average 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 value of $1,811,565.00. Following the transaction, the executive vice president now directly owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
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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