Conduent Incorporated (NASDAQ:CNDT - Get Free Report) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $4.18 and last traded at $4.17, with a volume of 75567 shares trading hands. The stock had previously closed at $4.15.
Analysts Set New Price Targets
Separately, StockNews.com lowered Conduent from a "buy" rating to a "hold" rating in a research note on Tuesday, May 28th.
View Our Latest Analysis on CNDT
Conduent Price Performance
The firm has a market cap of $834.69 million, a PE ratio of -4.53 and a beta of 1.52. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 1.54. The stock has a 50 day moving average price of $3.52 and a two-hundred day moving average price of $3.48.
Conduent (NASDAQ:CNDT - Get Free Report) last issued its earnings results on Wednesday, May 1st. The company reported ($0.09) EPS for the quarter, beating analysts' consensus estimates of ($0.15) by $0.06. The firm had revenue of $921.00 million for 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%. As a group, equities analysts expect that Conduent Incorporated will post -0.72 earnings per share for the current year.
Insider Activity at Conduent
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. 1.84% of the stock is owned by insiders.
Institutional Investors Weigh In On Conduent
A number of large investors have recently bought and sold shares of CNDT. Vanguard Group Inc. raised 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 worth $60,629,000 after buying an additional 48,742 shares during the period. SG Americas Securities LLC grew its holdings in Conduent by 36.8% in the 4th quarter. SG Americas Securities LLC now owns 75,972 shares of the company's stock valued at $277,000 after buying an additional 20,448 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Conduent by 46.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 455,501 shares of the company's stock valued at $1,663,000 after buying an additional 144,946 shares in the last quarter. Cerity Partners LLC purchased a new stake in Conduent in the 4th quarter valued at $81,000. Finally, NewEdge Wealth LLC purchased a new stake in Conduent in the 4th quarter valued at $48,000. Hedge funds and other institutional investors own 77.28% of the company's stock.
Conduent Company Profile
(Get 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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