Two Sigma Investments LP Has $35.43 Million Position in Conduent Inc (CNDT)
Two Sigma Investments LP increased its stake in shares of Conduent Inc (NYSE:CNDT) by 31.7% in the fourth quarter, Holdings Channel reports. The firm owned 2,192,325 shares of the company’s stock after buying an additional 527,934 shares during the period. Two Sigma Investments LP’s holdings in Conduent were worth $35,428,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Two Sigma Advisers LP lifted its stake in shares of Conduent by 191.6% during the 4th quarter. Two Sigma Advisers LP now owns 2,667,300 shares of the company’s stock worth $43,104,000 after purchasing an additional 1,752,570 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new stake in Conduent in the fourth quarter valued at about $2,256,000. Guggenheim Capital LLC raised its stake in Conduent by 255.0% in the fourth quarter. Guggenheim Capital LLC now owns 553,105 shares of the company’s stock valued at $8,938,000 after buying an additional 397,302 shares during the last quarter. Deutsche Bank AG raised its stake in Conduent by 20.5% in the fourth quarter. Deutsche Bank AG now owns 976,022 shares of the company’s stock valued at $15,770,000 after buying an additional 165,911 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Conduent by 24.0% in the fourth quarter. Renaissance Technologies LLC now owns 2,046,640 shares of the company’s stock valued at $33,074,000 after buying an additional 396,425 shares during the last quarter. Hedge funds and other institutional investors own 93.15% of the company’s stock.
Shares of Conduent Inc (CNDT) opened at $19.68 on Wednesday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $4,129.41, a PE ratio of 24.00 and a beta of -1.08. Conduent Inc has a 12 month low of $14.95 and a 12 month high of $20.32.
CNDT has been the subject of a number of research analyst reports. SunTrust Banks reiterated a “buy” rating and issued a $22.00 price target on shares of Conduent in a research note on Friday, February 23rd. Cowen reiterated a “hold” rating on shares of Conduent in a research note on Tuesday, February 27th. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Friday, February 23rd. Morgan Stanley reiterated an “equal weight” rating and issued a $20.00 price target (up from $17.50) on shares of Conduent in a research note on Thursday, February 22nd. Finally, Susquehanna Bancshares initiated coverage on Conduent in a research note on Wednesday, March 7th. They issued a “positive” rating and a $23.00 price target for the company. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $21.50.
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Conduent Company Profile
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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