Conduent (NASDAQ:CNDT) Reaches New 52-Week Low at $3.71

Conduent Incorporated (NASDAQ:CNDTGet Rating)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $3.71 and last traded at $3.74, with a volume of 43361 shares. The stock had previously closed at $3.86.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CNDT shares. Cowen lowered their price target on shares of Conduent to $4.50 in a report on Friday, July 22nd. TheStreet upgraded shares of Conduent from a “d+” rating to a “c” rating in a research report on Tuesday, May 24th. Finally, StockNews.com lowered shares of Conduent from a “buy” rating to a “hold” rating in a research report on Thursday, August 4th. Four investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $4.75.

Conduent Trading Down 3.4 %

The firm has a market cap of $804.90 million, a PE ratio of 8.48 and a beta of 1.66. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 1.04. The stock’s fifty day simple moving average is $4.34 and its two-hundred day simple moving average is $4.50.

Conduent (NASDAQ:CNDTGet Rating) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.03). The company had revenue of $928.00 million for the quarter, compared to the consensus estimate of $929.68 million. Conduent had a net margin of 2.69% and a return on equity of 9.08%. On average, sell-side analysts forecast that Conduent Incorporated will post 0.36 EPS for the current fiscal year.

Insider Activity

In related news, CFO Stephen Henry Wood bought 47,455 shares of the business’s stock in a transaction that occurred on Thursday, August 4th. The stock was bought at an average cost of $4.21 per share, with a total value of $199,785.55. Following the completion of the purchase, the chief financial officer now owns 478,379 shares of the company’s stock, valued at approximately $2,013,975.59. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Stephen Henry Wood purchased 47,455 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The stock was purchased at an average cost of $4.21 per share, with a total value of $199,785.55. Following the purchase, the chief financial officer now owns 478,379 shares in the company, valued at $2,013,975.59. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Clifford Skelton purchased 47,675 shares of the company’s stock in a transaction that occurred on Thursday, August 4th. The shares were purchased at an average cost of $4.23 per share, with a total value of $201,665.25. Following the completion of the purchase, the chief executive officer now owns 2,862,831 shares in the company, valued at approximately $12,109,775.13. The disclosure for this purchase can be found here. Insiders own 0.99% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. grew its position in Conduent by 151.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 52,195 shares of the company’s stock worth $279,000 after purchasing an additional 31,439 shares during the last quarter. PEAK6 Investments LLC purchased a new stake in shares of Conduent in the 4th quarter valued at $332,000. Goff John C purchased a new stake in shares of Conduent in the 4th quarter valued at $75,000. Gotham Asset Management LLC boosted its holdings in shares of Conduent by 60.9% in the 4th quarter. Gotham Asset Management LLC now owns 29,778 shares of the company’s stock valued at $159,000 after acquiring an additional 11,267 shares during the last quarter. Finally, Diametric Capital LP purchased a new stake in shares of Conduent in the 4th quarter valued at $263,000. Hedge funds and other institutional investors own 79.05% of the company’s stock.

Conduent Company Profile

(Get Rating)

Conduent Incorporated provides business process services with capabilities in transaction-intensive processing, analytics, and automation in the United States, Europe, and internationally. It operates through three segments: Commercial Industries, Government Services, and Transportation. The Commercial Industries segment offers business process services and customized solutions to clients in various industries; and end-user customer experience management, transaction processing services, healthcare and human resource, and learning services.

Further Reading

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