Conduent Inc (CNDT) Shares Bought by Prudential PLC
Prudential PLC increased its holdings in shares of Conduent Inc (NASDAQ:CNDT) by 396.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,129 shares of the company’s stock after buying an additional 378,551 shares during the quarter. Prudential PLC owned 0.23% of Conduent worth $7,558,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Teacher Retirement System of Texas grew its stake in Conduent by 0.7% during the 2nd quarter. Teacher Retirement System of Texas now owns 13,816 shares of the company’s stock worth $220,000 after buying an additional 98 shares during the last quarter. Alpha Windward LLC grew its stake in Conduent by 1.5% during the 2nd quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock worth $557,000 after buying an additional 524 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Conduent by 7.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock worth $483,000 after buying an additional 2,000 shares during the last quarter. Nordea Investment Management AB grew its stake in Conduent by 3.1% during the 2nd quarter. Nordea Investment Management AB now owns 68,339 shares of the company’s stock worth $1,089,000 after buying an additional 2,077 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Conduent by 20.7% during the 2nd quarter. Sei Investments Co. now owns 14,787 shares of the company’s stock worth $235,000 after buying an additional 2,533 shares during the last quarter.
Conduent Inc (NASDAQ CNDT) opened at 15.94 on Friday. The company’s 50-day moving average price is $15.81 and its 200 day moving average price is $15.81. Conduent Inc has a 52 week low of $13.10 and a 52 week high of $17.12. The stock’s market capitalization is $3.35 billion.
Conduent (NASDAQ:CNDT) last posted its quarterly earnings results 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 company had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. During the same period last year, the firm earned $0.30 earnings per share. Conduent’s quarterly revenue was down 7.3% on a year-over-year basis. Equities research analysts expect that Conduent Inc will post $0.76 EPS for the current fiscal year.
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CNDT has been the topic of several research analyst reports. Needham & Company LLC initiated coverage on Conduent in a research note on Wednesday, September 13th. They set a “hold” rating on the stock. Cowen and Company restated a “hold” rating and set a $18.00 target price on shares of Conduent in a research note on Friday, July 28th. BidaskClub downgraded Conduent from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 21st. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Wednesday, August 2nd. Finally, BMO Capital Markets restated a “hold” rating and set a $18.00 target price on shares of Conduent in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $18.14.
In other Conduent news, EVP David Amoriell sold 106,500 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 120,630 shares in the company, valued at $2,051,916.30. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
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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