Conduent Incorporated (NASDAQ:CNDT) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its position in Conduent Incorporated (NASDAQ:CNDT) by 40.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,111 shares of the company’s stock after selling 33,353 shares during the quarter. New York State Common Retirement Fund’s holdings in Conduent were worth $183,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CNDT. Vanguard Group Inc. boosted its stake in shares of Conduent by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 17,422,018 shares of the company’s stock valued at $60,629,000 after buying an additional 48,742 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Conduent by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,813,643 shares of the company’s stock valued at $13,271,000 after buying an additional 393,334 shares during the last quarter. AMH Equity Ltd boosted its stake in shares of Conduent by 86.3% during the 3rd quarter. AMH Equity Ltd now owns 1,490,000 shares of the company’s stock valued at $5,185,000 after buying an additional 690,000 shares during the last quarter. Rubric Capital Management LP purchased a new position in shares of Conduent during the 3rd quarter valued at approximately $2,905,000. Finally, Atalaya Capital Management LP boosted its stake in shares of Conduent by 278.8% during the 3rd quarter. Atalaya Capital Management LP now owns 578,585 shares of the company’s stock valued at $2,013,000 after buying an additional 425,847 shares during the last quarter. Institutional investors and hedge funds own 77.28% of the company’s stock.

Wall Street Analysts Forecast Growth

CNDT has been the subject of several research analyst reports. StockNews.com upgraded Conduent from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Noble Financial initiated coverage on Conduent in a research note on Thursday, March 14th. They set an “outperform” rating and a $9.00 target price for the company.

Conduent Stock Performance

Shares of CNDT opened at $3.82 on Friday. The business’s fifty day moving average price is $3.37 and its 200 day moving average price is $3.34. Conduent Incorporated has a 12-month low of $2.40 and a 12-month high of $4.08. The stock has a market capitalization of $781.50 million, a PE ratio of -4.24 and a beta of 1.60. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.87 and a quick ratio of 1.87.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Conduent had a negative return on equity of 2.50% and a negative net margin of 5.13%. The firm had revenue of $953.00 million for the quarter, compared to the consensus estimate of $930.00 million. During the same quarter last year, the business earned $0.01 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts forecast that Conduent Incorporated will post 1.66 EPS for the current year.

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.