Insider Buying: Conduent (NASDAQ:CNDT) CEO Acquires 117,099 Shares of Stock

Conduent Inc. (NASDAQ:CNDT) CEO Harshavardhan Agadi bought 117,099 shares of the business’s stock in a transaction on Friday, February 20th. The stock was acquired at an average cost of $1.56 per share, for a total transaction of $182,674.44. Following the completion of the transaction, the chief executive officer owned 337,099 shares in the company, valued at $525,874.44. This represents a 53.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Conduent Stock Down 5.0%

Shares of NASDAQ:CNDT traded down $0.08 during midday trading on Monday, reaching $1.51. The company had a trading volume of 2,357,856 shares, compared to its average volume of 1,531,456. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.57 and a quick ratio of 1.57. The stock’s fifty day moving average price is $1.76 and its 200-day moving average price is $2.20. The stock has a market capitalization of $233.61 million, a P/E ratio of -1.35 and a beta of 1.32. Conduent Inc. has a one year low of $1.18 and a one year high of $3.79.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) EPS 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 the consensus estimate of $790.50 million. Conduent had a negative net margin of 5.59% and a negative return on equity of 8.03%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) earnings per share. Equities research analysts expect that Conduent Inc. will post -0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on CNDT shares. Wall Street Zen upgraded 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 report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC grew its position in Conduent by 28,720.0% in the 4th quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after buying an additional 14,360 shares in the last quarter. Boothbay Fund Management LLC acquired a new position in shares of Conduent during the second quarter valued at approximately $29,000. FNY Investment Advisers LLC raised its holdings in Conduent by 89.7% during the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock worth $30,000 after purchasing an additional 5,165 shares in the last quarter. M&T Bank Corp bought a new stake in Conduent during the fourth quarter worth approximately $33,000. Finally, Modern Wealth Management LLC acquired a new stake in Conduent in the third quarter worth approximately $34,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

About Conduent

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.