NewEdge Wealth LLC Invests $48,000 in Conduent Incorporated (NASDAQ:CNDT)

NewEdge Wealth LLC acquired a new position in Conduent Incorporated (NASDAQ:CNDT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,059 shares of the company’s stock, valued at approximately $48,000.

Several other large investors also recently made changes to their positions in the business. Cerity Partners LLC acquired a new stake in shares of Conduent in the fourth quarter worth $81,000. Assenagon Asset Management S.A. increased its position in shares of Conduent by 46.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 455,501 shares of the company’s stock worth $1,663,000 after acquiring an additional 144,946 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Conduent by 36.8% in the fourth quarter. SG Americas Securities LLC now owns 75,972 shares of the company’s stock worth $277,000 after acquiring an additional 20,448 shares in the last quarter. Moody National Bank Trust Division grew its holdings in Conduent by 22.2% during the 4th quarter. Moody National Bank Trust Division now owns 67,798 shares of the company’s stock valued at $247,000 after purchasing an additional 12,314 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC acquired a new stake in Conduent during the 4th quarter valued at $36,000. Institutional investors and hedge funds own 77.28% of the company’s stock.

Conduent Price Performance

CNDT opened at $3.02 on Friday. The company has a fifty day simple moving average of $3.35 and a 200 day simple moving average of $3.31. The firm has a market cap of $630.09 million, a price-to-earnings ratio of -2.16 and a beta of 1.59. Conduent Incorporated has a twelve month low of $2.40 and a twelve month high of $3.81. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 1.97.

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

Wall Street Analyst Weigh In

CNDT has been the subject of a number of recent analyst reports. Noble Financial initiated coverage on shares of Conduent in a report on Thursday, March 14th. They set an “outperform” rating and a $9.00 price target for the company. StockNews.com lowered shares of Conduent from a “buy” rating to a “hold” rating in a report on Wednesday, March 6th.

Conduent Profile

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.