Vestmark Advisory Solutions Inc. Invests $48,000 in Conduent Incorporated (NASDAQ:CNDT)

Vestmark Advisory Solutions Inc. purchased a new stake in shares of Conduent Incorporated (NASDAQ:CNDT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,059 shares of the company’s stock, valued at approximately $48,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Rubric Capital Management LP purchased a new stake in Conduent during the 3rd quarter valued at $2,905,000. AMH Equity Ltd increased its holdings in Conduent by 86.3% in the 3rd quarter. AMH Equity Ltd now owns 1,490,000 shares of the company’s stock worth $5,185,000 after buying an additional 690,000 shares in the last quarter. B. Riley Asset Management LLC bought a new stake in Conduent in the 3rd quarter worth about $1,663,000. Atalaya Capital Management LP raised its position in Conduent by 278.8% in the 3rd quarter. Atalaya Capital Management LP now owns 578,585 shares of the company’s stock worth $2,013,000 after buying an additional 425,847 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Conduent by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,813,643 shares of the company’s stock valued at $13,271,000 after acquiring an additional 393,334 shares during the period. Institutional investors own 77.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Noble Financial initiated coverage on shares of Conduent in a report on Thursday, March 14th. They set an “outperform” rating and a $9.00 price objective for the company. StockNews.com raised shares of Conduent from a “hold” rating to a “buy” rating in a research report on Wednesday.

Conduent Stock Down 2.6 %

CNDT stock opened at $3.76 on Wednesday. The company has a market cap of $769.22 million, a price-to-earnings ratio of -4.18 and a beta of 1.60. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.91 and a current ratio of 1.91. The business’s 50-day moving average is $3.29 and its two-hundred day moving average is $3.31. Conduent Incorporated has a fifty-two week low of $2.40 and a fifty-two week high of $4.08.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $953.00 million for the quarter, compared to analysts’ expectations of $930.00 million. Conduent had a negative net margin of 5.13% and a negative return on equity of 2.48%. Conduent’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS. As a group, analysts forecast that Conduent Incorporated will post 1.06 earnings per share for the current year.

Conduent Company Profile

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.