Ameriprise Financial Inc. trimmed its stake in shares of Conduent Inc (NYSE:CNDT) by 48.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,715 shares of the company’s stock after selling 84,216 shares during the quarter. Ameriprise Financial Inc.’s holdings in Conduent were worth $1,407,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Conduent by 6.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after buying an additional 527 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Conduent by 213.2% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,882 shares of the company’s stock valued at $142,000 after purchasing an additional 6,046 shares in the last quarter. Stevens Capital Management LP purchased a new position in Conduent in the 2nd quarter valued at approximately $161,000. Pacad Investment Ltd. purchased a new position in Conduent in the 2nd quarter valued at approximately $161,000. Finally, Advisory Services Network LLC increased its stake in Conduent by 173.9% in the 2nd quarter. Advisory Services Network LLC now owns 10,913 shares of the company’s stock valued at $174,000 after purchasing an additional 6,929 shares in the last quarter. 88.70% of the stock is owned by institutional investors.
CNDT has been the subject of several research analyst reports. Cross Research raised Conduent from a “hold” rating to a “buy” rating in a research note on Tuesday, November 7th. SunTrust Banks reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Conduent in a research note on Friday, November 10th. BMO Capital Markets reissued a “hold” rating and set a $18.00 price target on shares of Conduent in a research report on Thursday, September 28th. BidaskClub downgraded Conduent from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 21st. Finally, Zacks Investment Research raised Conduent from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $19.60.
Shares of Conduent Inc (NYSE:CNDT) opened at $16.79 on Wednesday. The company has a market capitalization of $3,557.48 and a price-to-earnings ratio of -3.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.74 and a quick ratio of 1.74. Conduent Inc has a 1 year low of $13.77 and a 1 year high of $18.15.
Conduent (NYSE:CNDT) last announced its quarterly earnings data on Wednesday, November 8th. The company reported $0.22 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.01. Conduent had a positive return on equity of 5.45% and a negative net margin of 16.18%. The business had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was down 7.3% on a year-over-year basis. analysts expect that Conduent Inc will post 0.81 EPS for the current year.
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Conduent Company Profile
Conduent Incorporated is a provider of business process services, including transaction-intensive processing, analytics and automation services. The Company’s segments include Commercial Industries, Healthcare and Public Sector. The Commercial Industries segment provides business process services and customized solutions to clients in a range of industries (other than healthcare).
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