Insider Buying: Conduent (NASDAQ:CNDT) Director Purchases 50,000 Shares of Stock

Conduent Inc. (NASDAQ:CNDT) Director Hernandez Margarita Palau bought 50,000 shares of the business’s stock in a transaction dated Wednesday, February 18th. The shares were acquired at an average cost of $1.45 per share, for a total transaction of $72,500.00. Following the purchase, the director owned 50,000 shares of the company’s stock, valued at approximately $72,500. The trade was a ? increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Conduent Trading Up 11.6%

Shares of CNDT stock traded up $0.17 on Friday, reaching $1.60. 692,517 shares of the company’s stock were exchanged, compared to its average volume of 1,444,751. The company’s fifty day simple moving average is $1.77 and its 200 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 current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $244.01 million, a PE ratio of -1.42, a P/E/G ratio of 35.25 and a beta of 1.31.

Conduent (NASDAQ:CNDT) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.03). Conduent had a negative net margin of 5.59% and a negative return on equity of 7.82%. The business had revenue of $770.00 million during the quarter, compared to the consensus estimate of $790.50 million. During the same period last year, the company earned ($0.15) EPS. The business’s revenue was down 3.7% compared to the same quarter last year. As a group, analysts forecast that Conduent Inc. will post -0.34 EPS for the current year.

Institutional Trading of Conduent

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership lifted its stake in shares of Conduent by 323.8% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 2,757,577 shares of the company’s stock worth $7,280,000 after purchasing an additional 2,106,956 shares during the last quarter. Prudential Financial Inc. grew its stake in Conduent by 7.1% in the second quarter. Prudential Financial Inc. now owns 2,576,089 shares of the company’s stock valued at $6,801,000 after purchasing an additional 171,846 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in Conduent by 3.0% in the second quarter. Neuberger Berman Group LLC now owns 15,239,805 shares of the company’s stock worth $40,233,000 after purchasing an additional 445,372 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Conduent during the second quarter valued at about $100,000. Finally, XTX Topco Ltd lifted its position in shares of Conduent by 83.8% during the second quarter. XTX Topco Ltd now owns 316,255 shares of the company’s stock valued at $835,000 after buying an additional 144,181 shares during the last quarter. Institutional investors own 77.28% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Conduent in a research report on Wednesday, January 21st. Wall Street Zen lowered shares of Conduent from a “hold” rating to a “sell” rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

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.