Hsbc Holdings PLC Acquires New Stake in Conduent Inc. $CNDT

Hsbc Holdings PLC acquired a new stake in Conduent Inc. (NASDAQ:CNDT) during the 2nd quarter, Holdings Channel reports. The institutional investor acquired 272,320 shares of the company’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nierenberg Investment Management Company LLC purchased a new stake in Conduent in the second quarter worth $25,630. Global Retirement Partners LLC boosted its stake in shares of Conduent by 28,720.0% during the fourth quarter. Global Retirement Partners LLC now owns 14,410 shares of the company’s stock valued at $28,000 after purchasing an additional 14,360 shares during the period. Boothbay Fund Management LLC purchased a new stake in shares of Conduent during the second quarter valued at $29,000. Pallas Capital Advisors LLC bought a new position in shares of Conduent in the second quarter worth about $30,000. Finally, GSA Capital Partners LLP bought a new position in shares of Conduent in the second quarter worth about $30,000. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Conduent Price Performance

Shares of CNDT stock opened at $1.89 on Friday. Conduent Inc. has a twelve month low of $1.15 and a twelve month high of $2.98. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 1.33. The stock has a fifty day simple moving average of $1.58 and a two-hundred day simple moving average of $1.52. The stock has a market capitalization of $293.93 million, a price-to-earnings ratio of -1.24 and a beta of 1.44.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings results on Monday, August 10th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.01). The firm had revenue of $531.00 million for the quarter, compared to analysts’ expectations of $702.00 million. Conduent had a negative net margin of 8.17% and a negative return on equity of 9.02%. On average, analysts predict that Conduent Inc. will post -0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Noble Financial raised shares of Conduent to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Conduent from a “hold” rating to a “strong sell” rating in a research note on Saturday, August 15th. Finally, Zacks Research lowered shares of Conduent from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Conduent presently has a consensus rating of “Hold”.

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.