Conduent Inc. $CNDT Shares Bought by Miller Value Partners LLC

Miller Value Partners LLC increased its holdings in Conduent Inc. (NASDAQ:CNDT) by 38.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,583,385 shares of the company’s stock after buying an additional 1,552,560 shares during the period. Conduent accounts for 3.8% of Miller Value Partners LLC’s holdings, making the stock its 9th largest position. Miller Value Partners LLC owned 3.65% of Conduent worth $10,720,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in CNDT. Global Retirement Partners LLC increased its stake in Conduent by 28,720.0% in the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after acquiring an additional 14,360 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Conduent in the second quarter valued at approximately $29,000. FNY Investment Advisers LLC increased its stake in Conduent by 89.7% in the third quarter. FNY Investment Advisers LLC now owns 10,920 shares of the company’s stock valued at $30,000 after acquiring an additional 5,165 shares during the last quarter. M&T Bank Corp bought a new position in Conduent in the fourth quarter valued at approximately $33,000. Finally, IHT Wealth Management LLC bought a new position in Conduent in the second quarter valued at approximately $34,000. 77.28% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CNDT. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research note on Monday, April 20th. Noble Financial raised shares of Conduent to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen raised shares of Conduent from a “sell” rating to a “hold” rating in a research note on Saturday, March 21st. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Conduent Price Performance

Shares of NASDAQ:CNDT opened at $1.43 on Thursday. The company has a fifty day moving average of $1.60 and a 200-day moving average of $1.63. The company has a market capitalization of $221.79 million, a PE ratio of -1.40 and a beta of 1.42. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.59 and a current ratio of 1.59. Conduent Inc. has a 52-week low of $1.15 and a 52-week high of $2.98.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.19) by $0.12. The company had revenue of $723.00 million during the quarter, compared to the consensus estimate of $746.67 million. Conduent had a negative net margin of 5.04% and a negative return on equity of 7.08%. On average, equities analysts predict that Conduent Inc. will post -0.29 EPS for the current fiscal year.

About Conduent

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.