Insider Buying: Conduent (NASDAQ:CNDT) CEO Acquires 110,000 Shares of Stock

Conduent Inc. (NASDAQ:CNDT) CEO Harshavardhan Agadi purchased 110,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The stock was acquired at an average price of $1.44 per share, for a total transaction of $158,400.00. Following the completion of the transaction, the chief executive officer owned 110,000 shares of the company’s stock, valued at $158,400. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Conduent Price Performance

Shares of NASDAQ:CNDT traded up $0.17 during trading hours on Friday, hitting $1.60. 692,517 shares of the company’s stock traded hands, compared to its average volume of 1,444,751. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.64 and a current ratio of 1.64. The company’s fifty day simple moving average is $1.77 and its two-hundred day simple moving average is $2.21. Conduent Inc. has a 52 week low of $1.18 and a 52 week high of $3.94. The company has a market cap of $244.01 million, a price-to-earnings ratio of -1.42, a price-to-earnings-growth ratio of 35.25 and a beta of 1.31.

Conduent (NASDAQ:CNDT) last issued its earnings results on Thursday, February 12th. The company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.03). The business had revenue of $770.00 million for the quarter, compared to the consensus estimate of $790.50 million. Conduent had a negative return on equity of 7.82% and a negative net margin of 5.59%.The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.15) earnings per share. As a group, equities analysts anticipate that Conduent Inc. will post -0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CNDT. AQR Capital Management LLC lifted its stake in Conduent by 106.7% in the 1st quarter. AQR Capital Management LLC now owns 740,375 shares of the company’s stock worth $1,999,000 after acquiring an additional 382,191 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Conduent by 0.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,962,919 shares of the company’s stock valued at $5,300,000 after purchasing an additional 11,428 shares during the period. Caxton Associates LLP purchased a new stake in shares of Conduent in the first quarter worth approximately $249,000. Empowered Funds LLC lifted its position in shares of Conduent by 3.0% in the first quarter. Empowered Funds LLC now owns 864,190 shares of the company’s stock worth $2,333,000 after purchasing an additional 25,515 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of Conduent by 20.9% during the first quarter. Jane Street Group LLC now owns 397,856 shares of the company’s stock worth $1,074,000 after purchasing an additional 68,860 shares during the period. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CNDT. Wall Street Zen downgraded Conduent from a “hold” rating to a “sell” rating in a report on Saturday, November 15th. Weiss Ratings restated a “sell (d)” rating on shares of Conduent in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Conduent Company Profile

Conduent Incorporated is a global provider of diversified business process services with a focus on delivering digital platforms and automation solutions. The company serves clients across a variety of industries including healthcare, transportation, public sector, financial services and human resources. By combining technology-enabled services with data analytics and artificial intelligence, Conduent helps organizations streamline operations, enhance customer experiences and improve overall efficiency.

Key offerings from Conduent encompass customer engagement and transaction processing, digital payment solutions, eligibility and enrollment services for health and welfare programs, and workforce management tools.