Conduent (NASDAQ:CNDT) Director Michael Fucci Acquires 60,000 Shares of Stock

Conduent Inc. (NASDAQ:CNDT) Director Michael Fucci acquired 60,000 shares of the stock in a transaction dated Thursday, February 19th. The stock was acquired at an average cost of $1.44 per share, with a total value of $86,400.00. Following the purchase, the director owned 166,102 shares of the company’s stock, valued at approximately $239,186.88. This trade represents a 56.55% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Conduent Price Performance

Shares of CNDT opened at $1.59 on Friday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.97. Conduent Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $3.94. The company has a market cap of $243.10 million, a P/E ratio of -1.42 and a beta of 1.31. The firm’s 50 day moving average price is $1.76 and its 200 day moving average price is $2.21.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The company had revenue of $770.00 million for the quarter, compared to analysts’ expectations of $790.50 million. Conduent had a negative return on equity of 7.82% and a negative net margin of 5.59%.The firm’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.15) EPS. On average, research analysts forecast that Conduent Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (d)” rating on shares of Conduent in a research report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Conduent presently has an average rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GatePass Capital LLC raised its holdings in Conduent by 2.3% during the second quarter. GatePass Capital LLC now owns 223,100 shares of the company’s stock worth $589,000 after purchasing an additional 5,000 shares in the last quarter. FNY Investment Advisers LLC raised its stake in shares of Conduent by 89.7% during the 3rd quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after buying an additional 5,165 shares in the last quarter. Sei Investments Co. raised its stake in shares of Conduent by 4.3% during the 3rd quarter. Sei Investments Co. now owns 201,619 shares of the company’s stock worth $565,000 after buying an additional 8,381 shares in the last quarter. HTG Investment Advisors Inc. raised its position in Conduent by 66.8% in the fourth quarter. HTG Investment Advisors Inc. now owns 22,474 shares of the company’s stock worth $43,000 after acquiring an additional 9,000 shares in the last quarter. Finally, Strs Ohio grew its stake in shares of Conduent by 6.8% during the 4th quarter. Strs Ohio now owns 171,500 shares of the company’s stock worth $329,000 after purchasing an additional 10,900 shares during the period. 77.28% of the stock is currently owned by institutional investors and hedge funds.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.