Natixis boosted its holdings in Conduent Inc (NYSE:CNDT) by 102.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,282,270 shares of the company’s stock after buying an additional 649,471 shares during the quarter. Natixis owned approximately 0.61% of Conduent worth $12,297,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cibc World Markets Corp acquired a new stake in Conduent in the second quarter valued at $2,225,000. Bogle Investment Management L P DE grew its position in shares of Conduent by 40.5% in the 2nd quarter. Bogle Investment Management L P DE now owns 848,262 shares of the company’s stock valued at $8,135,000 after buying an additional 244,475 shares during the last quarter. Alambic Investment Management L.P. grew its position in shares of Conduent by 23.6% in the 2nd quarter. Alambic Investment Management L.P. now owns 34,000 shares of the company’s stock valued at $326,000 after buying an additional 6,487 shares during the last quarter. Northern Trust Corp increased its stake in shares of Conduent by 9.0% in the second quarter. Northern Trust Corp now owns 1,251,631 shares of the company’s stock valued at $12,003,000 after buying an additional 102,994 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Conduent by 4.1% in the second quarter. Renaissance Technologies LLC now owns 3,307,272 shares of the company’s stock valued at $31,717,000 after buying an additional 130,926 shares during the period. Institutional investors and hedge funds own 90.13% of the company’s stock.

Shares of CNDT stock traded up $0.09 during mid-day trading on Wednesday, hitting $7.10. The company’s stock had a trading volume of 131,442 shares, compared to its average volume of 3,655,320. The company has a market cap of $1.37 billion, a PE ratio of 6.77 and a beta of 1.84. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.32 and a current ratio of 1.32. The company’s fifty day simple moving average is $7.37 and its 200-day simple moving average is $10.41. Conduent Inc has a 52 week low of $5.26 and a 52 week high of $23.37.

Conduent (NYSE:CNDT) last announced its earnings results on Thursday, August 8th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.04). The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.10 billion. Conduent had a negative net margin of 35.30% and a positive return on equity of 6.35%. The firm’s revenue for the quarter was down 19.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.29 EPS. On average, equities analysts anticipate that Conduent Inc will post 0.64 earnings per share for the current year.

A number of research firms recently commented on CNDT. Citigroup reaffirmed a “neutral” rating and issued a $7.50 price objective (down from $9.00) on shares of Conduent in a research note on Wednesday, August 28th. JPMorgan Chase & Co. raised shares of Conduent from a “neutral” rating to an “overweight” rating and set a $8.00 target price for the company in a research report on Friday, August 9th. Cowen set a $8.00 price target on shares of Conduent and gave the stock a “hold” rating in a report on Friday, August 9th. Finally, Zacks Investment Research downgraded shares of Conduent from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.44.

In related news, major shareholder Carl C. Icahn acquired 1,941,101 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $12,753,033.57. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Carl C. Icahn acquired 3,076,378 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were bought at an average cost of $6.43 per share, for a total transaction of $19,781,110.54. The disclosure for this purchase can be found here. 0.92% of the stock is currently owned by insiders.

About Conduent

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States and Europe. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries.

See Also: Equity Income

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Institutional Ownership by Quarter for Conduent (NYSE:CNDT)

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