Ancora Advisors LLC bought a new position in shares of Conduent Incorporated (NASDAQ:CNDT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 578,930 shares of the company's stock, valued at approximately $1,957,000. Ancora Advisors LLC owned 0.28% of Conduent as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of CNDT. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Conduent by 198.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 763,916 shares of the company's stock valued at $2,582,000 after buying an additional 508,012 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Conduent by 117.5% in the first quarter. Public Employees Retirement System of Ohio now owns 154,403 shares of the company's stock worth $522,000 after purchasing an additional 83,414 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Conduent by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 134,884 shares of the company's stock worth $456,000 after purchasing an additional 7,890 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Conduent during the 1st quarter valued at $79,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of Conduent in the 1st quarter worth $104,000. Institutional investors own 77.28% of the company's stock.
Analysts Set New Price Targets
Separately, StockNews.com cut Conduent from a "buy" rating to a "hold" rating in a research note on Tuesday, May 28th.
Get Our Latest Stock Analysis on Conduent
Insider Activity
In related news, major shareholder Carl C. Icahn sold 38,149,336 shares of the company's stock in a transaction that occurred on Saturday, June 8th. The stock was sold at an average price of $3.47, for a total value of $132,378,195.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 1.84% of the company's stock.
Conduent Stock Performance
Conduent stock traded down $0.14 during mid-day trading on Thursday, reaching $3.94. 1,168,485 shares of the company traded hands, compared to its average volume of 1,104,561. Conduent Incorporated has a fifty-two week low of $2.40 and a fifty-two week high of $4.20. The firm's fifty day moving average is $3.53 and its two-hundred day moving average is $3.48. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market capitalization of $806.05 million, a price-to-earnings ratio of -4.38 and a beta of 1.52.
Conduent (NASDAQ:CNDT - Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.06. The company had revenue of $921.00 million during the quarter, compared to analyst estimates of $896.00 million. Conduent had a negative return on equity of 2.50% and a negative net margin of 5.13%. On average, equities research analysts expect that Conduent Incorporated will post -0.72 earnings per share for the current fiscal year.
Conduent Company Profile
(Free Report)
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.
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