Laurion Capital Management LP trimmed its holdings in shares of Conduent Inc (NASDAQ:CNDT) by 30.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 134,721 shares of the company’s stock after selling 57,739 shares during the quarter. Laurion Capital Management LP owned approximately 0.06% of Conduent worth $2,147,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stevens Capital Management LP bought a new stake in Conduent during the second quarter valued at approximately $161,000. Amalgamated Bank grew its position in Conduent by 214.9% during the second quarter. Amalgamated Bank now owns 34,435 shares of the company’s stock valued at $549,000 after buying an additional 23,500 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in Conduent by 59.0% during the second quarter. Edmond DE Rothschild Holding S.A. now owns 26,950 shares of the company’s stock valued at $430,000 after buying an additional 10,000 shares during the period. Nationwide Fund Advisors bought a new stake in Conduent during the second quarter valued at approximately $701,000. Finally, Ameriprise Financial Inc. grew its position in Conduent by 170.2% during the second quarter. Ameriprise Financial Inc. now owns 173,931 shares of the company’s stock valued at $2,772,000 after buying an additional 109,555 shares during the period.
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Several brokerages recently issued reports on CNDT. Zacks Investment Research lowered shares of Conduent from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Needham & Company LLC began coverage on shares of Conduent in a research report on Wednesday, September 13th. They set a “hold” rating for the company. Cowen and Company restated a “hold” rating and set a $18.00 target price on shares of Conduent in a research report on Friday, July 28th. Finally, Citigroup Inc. restated a “buy” rating and set a $25.00 target price (up from $17.00) on shares of Conduent in a research report on Friday, June 9th. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $18.00.
Conduent Inc (NASDAQ CNDT) opened at 15.57 on Thursday. The firm has a 50 day moving average of $16.00 and a 200-day moving average of $16.00. Conduent Inc has a 52-week low of $13.10 and a 52-week high of $17.12. The company’s market capitalization is $3.27 billion.
Conduent (NASDAQ:CNDT) last issued its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. The business had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Conduent had a negative net margin of 0.27% and a negative return on equity of 0.48%. The business’s revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. Equities analysts expect that Conduent Inc will post $0.76 EPS for the current year.
In other news, EVP David Amoriell sold 106,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $17.01, for a total transaction of $1,811,565.00. Following the sale, the executive vice president now owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
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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