Jefferies Group LLC trimmed its position in Conduent Inc (NYSE:CNDT) by 64.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 213,717 shares of the company’s stock after selling 392,108 shares during the period. Jefferies Group LLC owned 0.10% of Conduent worth $3,454,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Conduent by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock worth $135,000 after purchasing an additional 527 shares during the period. First Allied Advisory Services Inc. purchased a new stake in Conduent in the third quarter worth $149,000. Financial Consulate Inc. purchased a new stake in shares of Conduent in the fourth quarter worth $181,000. State of Alaska Department of Revenue purchased a new stake in shares of Conduent in the fourth quarter worth $215,000. Finally, Yellowstone Partners LLC purchased a new stake in shares of Conduent in the third quarter worth $228,000. 93.14% of the stock is currently owned by institutional investors.
CNDT has been the topic of a number of recent research reports. Zacks Investment Research cut Conduent from a “buy” rating to a “hold” rating in a research note on Friday, December 29th. BMO Capital Markets reissued a “market perform” rating and issued a $19.00 target price (up from $17.00) on shares of Conduent in a research note on Thursday, February 22nd. Morgan Stanley reissued an “equal weight” rating and issued a $20.00 target price (up from $17.50) on shares of Conduent in a research note on Thursday, February 22nd. SunTrust Banks reissued a “buy” rating and issued a $22.00 target price on shares of Conduent in a research note on Friday, February 23rd. Finally, Cowen reissued a “hold” rating on shares of Conduent in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $21.50.
Shares of NYSE:CNDT traded down $0.29 during midday trading on Monday, reaching $18.35. 1,887,540 shares of the company’s stock traded hands, compared to its average volume of 2,476,852. The company has a market cap of $3,923.15, a P/E ratio of 21.59 and a beta of -0.67. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.98 and a quick ratio of 1.98. Conduent Inc has a one year low of $14.95 and a one year high of $20.32.
Conduent (NYSE:CNDT) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.05. The firm had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Conduent had a return on equity of 5.53% and a net margin of 3.01%. The company’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.29 earnings per share. sell-side analysts anticipate that Conduent Inc will post 1.09 earnings per share for the current year.
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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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