Phocas Financial Corp. cut its holdings in Conduent Inc (NYSE:CNDT) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 340,937 shares of the company’s stock after selling 14,356 shares during the quarter. Phocas Financial Corp. owned approximately 0.16% of Conduent worth $5,510,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its position in shares of Conduent by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the company’s stock valued at $135,000 after purchasing an additional 527 shares during the last quarter. Magnetar Financial LLC grew its position in shares of Conduent by 29.7% in the third quarter. Magnetar Financial LLC now owns 14,809 shares of the company’s stock valued at $232,000 after purchasing an additional 3,389 shares during the last quarter. Sei Investments Co. lifted its stake in shares of Conduent by 24.6% during the third quarter. Sei Investments Co. now owns 18,422 shares of the company’s stock valued at $288,000 after buying an additional 3,635 shares during the period. Yellowstone Partners LLC lifted its stake in shares of Conduent by 27.2% during the fourth quarter. Yellowstone Partners LLC now owns 18,528 shares of the company’s stock valued at $299,000 after buying an additional 3,962 shares during the period. Finally, California Public Employees Retirement System lifted its stake in shares of Conduent by 1.5% during the third quarter. California Public Employees Retirement System now owns 370,820 shares of the company’s stock valued at $5,811,000 after buying an additional 5,600 shares during the period. Institutional investors and hedge funds own 93.14% of the company’s stock.
Conduent stock opened at $20.01 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market cap of $4,190.44, a P/E ratio of 23.42 and a beta of -1.08. Conduent Inc has a one year low of $14.95 and a one year high of $20.32.
Conduent (NYSE:CNDT) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.05. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.48 billion. Conduent had a net margin of 3.01% and a return on equity of 5.53%. Conduent’s revenue was down 1.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.29 earnings per share. research analysts forecast that Conduent Inc will post 1.09 EPS for the current fiscal year.
Several brokerages recently issued reports on CNDT. Susquehanna Bancshares began coverage on shares of Conduent in a research note on Wednesday, March 7th. They set a “positive” rating and a $23.00 price objective on the stock. Needham & Company LLC raised shares of Conduent from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Tuesday, March 6th. Cowen reissued a “hold” rating on shares of Conduent in a research note on Tuesday, February 27th. SunTrust Banks reissued a “buy” rating and set a $22.00 price objective on shares of Conduent in a research note on Friday, February 23rd. Finally, Zacks Investment Research raised shares of Conduent from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Friday, February 23rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $21.50.
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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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