Conduent Incorporated (NASDAQ:CNDT) Shares Sold by Waterfront Wealth Inc.

Waterfront Wealth Inc. reduced its stake in shares of Conduent Incorporated (NASDAQ:CNDT) by 32.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 254,204 shares of the company’s stock after selling 123,176 shares during the quarter. Waterfront Wealth Inc.’s holdings in Conduent were worth $928,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Conduent by 4,848.7% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 6,003,267 shares of the company’s stock worth $25,934,000 after buying an additional 5,881,958 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Conduent by 20.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 7,841,839 shares of the company’s stock valued at $31,760,000 after purchasing an additional 1,314,421 shares during the last quarter. BlackRock Inc. increased its stake in shares of Conduent by 6.9% during the 1st quarter. BlackRock Inc. now owns 16,966,185 shares of the company’s stock worth $87,546,000 after purchasing an additional 1,099,590 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Conduent by 11.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,152,387 shares of the company’s stock worth $31,392,000 after purchasing an additional 904,919 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Conduent by 5.4% during the third quarter. Vanguard Group Inc. now owns 17,192,316 shares of the company’s stock worth $57,423,000 after buying an additional 885,324 shares in the last quarter. 77.28% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Noble Financial began coverage on shares of Conduent in a report on Thursday, March 14th. They issued an “outperform” rating and a $9.00 target price on the stock. StockNews.com lowered Conduent from a “buy” rating to a “hold” rating in a research report on Wednesday, March 6th.

Conduent Stock Performance

Shares of CNDT remained flat at $3.02 during midday trading on Thursday. The company’s stock had a trading volume of 51,581 shares, compared to its average volume of 980,838. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.91 and a current ratio of 1.91. Conduent Incorporated has a 12 month low of $2.40 and a 12 month high of $3.81. The stock has a market capitalization of $630.09 million, a P/E ratio of -2.16 and a beta of 1.59. The company’s fifty day moving average is $3.36 and its 200-day moving average is $3.31.

Conduent (NASDAQ:CNDT) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The business had revenue of $953.00 million during the quarter, compared to analysts’ expectations of $930.00 million. During the same period in the previous year, the company posted $0.01 EPS. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that Conduent Incorporated will post 1.06 earnings per share for the current year.

About Conduent

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.