Connor Clark & Lunn Investment Management Ltd. lessened its position in shares of Conduent Incorporated (NASDAQ:CNDT – Get Rating) by 24.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 284,940 shares of the company’s stock after selling 93,056 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Conduent were worth $1,522,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in CNDT. Counterpoint Mutual Funds LLC acquired a new stake in Conduent in the 4th quarter valued at about $26,000. Nisa Investment Advisors LLC lifted its stake in Conduent by 188.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 9,950 shares of the company’s stock valued at $47,000 after purchasing an additional 6,500 shares during the last quarter. Royal Bank of Canada lifted its stake in Conduent by 45.0% in the 3rd quarter. Royal Bank of Canada now owns 22,501 shares of the company’s stock valued at $148,000 after purchasing an additional 6,985 shares during the last quarter. Smith Graham & Co. Investment Advisors LP lifted its stake in Conduent by 0.5% in the 4th quarter. Smith Graham & Co. Investment Advisors LP now owns 1,657,391 shares of the company’s stock valued at $8,850,000 after purchasing an additional 7,679 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Conduent by 225.9% in the 3rd quarter. Macquarie Group Ltd. now owns 11,702 shares of the company’s stock valued at $77,000 after purchasing an additional 8,111 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.
Several brokerages have issued reports on CNDT. TheStreet downgraded shares of Conduent from a “c-” rating to a “d+” rating in a research report on Wednesday, February 9th. Cowen cut their price objective on shares of Conduent from $6.00 to $5.00 in a research report on Thursday, February 17th. Finally, Zacks Investment Research downgraded shares of Conduent from a “hold” rating to a “sell” rating in a research report on Friday, April 29th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, Conduent currently has an average rating of “Hold” and an average target price of $7.25.
NASDAQ CNDT opened at $4.66 on Friday. The company has a current ratio of 1.77, a quick ratio of 1.77 and a debt-to-equity ratio of 1.01. Conduent Incorporated has a 1-year low of $4.12 and a 1-year high of $8.50. The company has a 50 day moving average of $5.05 and a 200-day moving average of $5.24. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 9.51 and a beta of 1.66.
Conduent (NASDAQ:CNDT – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $967.00 million for the quarter, compared to analysts’ expectations of $970.75 million. Conduent had a net margin of 2.92% and a return on equity of 12.26%. The firm’s quarterly revenue was down 5.9% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. On average, equities research analysts forecast that Conduent Incorporated will post 0.38 earnings per share for the current year.
Conduent 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.
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