HTG Investment Advisors Inc. Purchases New Position in Conduent Inc. $CNDT

HTG Investment Advisors Inc. acquired a new position in Conduent Inc. (NASDAQ:CNDT) in the second quarter, HoldingsChannel.com reports. The firm acquired 13,474 shares of the company’s stock, valued at approximately $36,000.

Several other institutional investors have also added to or reduced their stakes in CNDT. Truvestments Capital LLC bought a new stake in shares of Conduent in the 1st quarter worth $28,000. Principal Financial Group Inc. bought a new position in shares of Conduent during the first quarter valued at $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Conduent during the first quarter valued at $32,000. Pallas Capital Advisors LLC bought a new stake in Conduent in the 2nd quarter worth about $43,000. Finally, Vestmark Advisory Solutions Inc. increased its holdings in Conduent by 114.5% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 28,014 shares of the company’s stock worth $76,000 after buying an additional 14,955 shares in the last quarter. 77.28% of the stock is currently owned by hedge funds and other institutional investors.

Conduent Stock Down 0.7%

Shares of CNDT stock opened at $2.73 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 0.81. Conduent Inc. has a 12 month low of $1.90 and a 12 month high of $4.90. The stock has a market cap of $431.26 million, a P/E ratio of 68.27 and a beta of 1.35. The company has a 50 day simple moving average of $2.71 and a two-hundred day simple moving average of $2.55.

Conduent (NASDAQ:CNDT) last issued its quarterly earnings results on Wednesday, August 6th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. The business had revenue of $754.00 million for the quarter, compared to analysts’ expectations of $777.00 million. Conduent had a net margin of 0.64% and a negative return on equity of 9.88%. The company’s revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.14) EPS. On average, research analysts expect that Conduent Inc. will post -0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CNDT shares. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a research note on Saturday, September 27th. Wall Street Zen upgraded shares of Conduent from a “sell” rating to a “hold” rating in a report on Saturday, August 23rd. Finally, Singular Research raised shares of Conduent to a “strong-buy” rating in a research report on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Conduent Company Profile

Conduent Incorporated provides digital business solutions and services for the commercial, government, and transportation spectrum in the United States, Europe, and internationally. It operates through three segments: Commercial, Government Services, and Transportation. The Commercial segment offers business process services and customized solutions to clients in various industries; and customer experience management, business operations, healthcare claims and administration, and human capital solutions.