Conduent Inc (CNDT) Position Reduced by Fmr LLC

Fmr LLC lessened its stake in Conduent Inc (NASDAQ:CNDT) by 41.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,654,489 shares of the company’s stock after selling 3,965,512 shares during the quarter. Fmr LLC owned about 2.70% of Conduent worth $90,133,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas increased its holdings in Conduent by 0.7% in the second quarter. Teacher Retirement System of Texas now owns 13,816 shares of the company’s stock valued at $220,000 after purchasing an additional 98 shares during the last quarter. Alpha Windward LLC increased its holdings in Conduent by 1.5% in the second quarter. Alpha Windward LLC now owns 34,916 shares of the company’s stock valued at $557,000 after purchasing an additional 524 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in Conduent by 7.1% in the second quarter. Nisa Investment Advisors LLC now owns 30,135 shares of the company’s stock valued at $483,000 after purchasing an additional 2,000 shares during the last quarter. Sei Investments Co. increased its holdings in Conduent by 20.7% in the second quarter. Sei Investments Co. now owns 14,787 shares of the company’s stock valued at $235,000 after purchasing an additional 2,533 shares during the last quarter. Finally, First Mercantile Trust Co. increased its holdings in Conduent by 56.2% in the second quarter. First Mercantile Trust Co. now owns 14,845 shares of the company’s stock valued at $237,000 after purchasing an additional 5,340 shares during the last quarter.

Shares of Conduent Inc (NASDAQ CNDT) opened at 16.03 on Wednesday. Conduent Inc has a 12-month low of $13.10 and a 12-month high of $17.12. The company’s market cap is $3.37 billion. The company has a 50-day moving average price of $15.83 and a 200-day moving average price of $15.83.

Conduent (NASDAQ:CNDT) last posted its quarterly earnings data on Wednesday, August 9th. The company reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Conduent had a negative return on equity of 0.48% and a negative net margin of 0.27%. The firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was down 7.3% on a year-over-year basis. On average, analysts predict that Conduent Inc will post $0.76 earnings per share for the current year.

A number of equities research analysts recently commented on CNDT shares. Zacks Investment Research upgraded Conduent from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Wednesday, August 2nd. Cowen and Company reiterated a “hold” rating and issued a $18.00 price objective on shares of Conduent in a report on Friday, July 28th. BidaskClub downgraded Conduent from a “sell” rating to a “strong sell” rating in a report on Thursday, September 21st. Needham & Company LLC started coverage on Conduent in a report on Wednesday, September 13th. They issued a “hold” rating for the company. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $18.00 price objective on shares of Conduent in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Conduent presently has an average rating of “Hold” and a consensus target price of $18.14.

In other news, EVP David Amoriell sold 106,500 shares of Conduent stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $17.01, for a total value of $1,811,565.00. Following the completion of the transaction, the executive vice president now directly owns 120,630 shares of the company’s stock, valued at approximately $2,051,916.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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About Conduent

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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Institutional Ownership by Quarter for Conduent (NASDAQ:CNDT)

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